Zacks Downgrades Impax Laboratories to Neutral (IPXL)
Impax Laboratories (NASDAQ:IPXL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, AR Network reports. They currently have a $27.00 price objective on the stock. Zacks‘ price objective suggests a potential upside of 9.67% from the stock’s previous close.
Impax Laboratories (NASDAQ:IPXL) traded up 0.24% on Monday, hitting $24.62. 274,816 shares of the company’s stock traded hands. Impax Laboratories has a 52 week low of $14.41 and a 52 week high of $25.50. The stock has a 50-day moving average of $24.24 and a 200-day moving average of $21.76. The company has a market cap of $1.653 billion and a P/E ratio of 14.55.
Impax Laboratories (NASDAQ:IPXL) last released its earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.33. The company had revenue of $115.75 million for the quarter, compared to the consensus estimate of $111.83 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts expect that Impax Laboratories will post $0.86 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital initiated coverage on shares of Impax Laboratories in a research note to investors on Monday, January 6th. They set a “sector perform” rating and a $25.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Impax Laboratories in a research note to investors on Monday, December 16th. They set a “buy” rating and a $29.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating in a research note to investors on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Impax Laboratories presently has an average rating of “Hold” and an average price target of $21.75.
Impax Laboratories Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products, referred to as generics, in addition to the development and marketing of branded products.
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