Impax Laboratories Given New $32.00 Price Target at Guggenheim (IPXL)
Guggenheim raised their target price on shares of Impax Laboratories (NASDAQ:IPXL) from $30.00 to $32.00 in a research note issued on Friday, ARN reports. Guggenheim’s price objective indicates a potential upside of 18.52% from the company’s current price.
A number of other firms have also recently commented on IPXL. Analysts at Zacks upgraded shares of Impax Laboratories from a “neutral” rating to an “outperform” rating in a research note on Monday, April 21st. They now have a $28.40 price target on the stock. Separately, analysts at Sterne Agee initiated coverage on shares of Impax Laboratories in a research note on Wednesday, April 16th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Impax Laboratories from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Impax Laboratories has a consensus rating of “Hold” and an average target price of $24.53.
Impax Laboratories (NASDAQ:IPXL) opened at 27.00 on Friday. Impax Laboratories has a 1-year low of $16.09 and a 1-year high of $29.46. The stock’s 50-day moving average is $25.76 and its 200-day moving average is $24.11. The company has a market cap of $1.824 billion and a price-to-earnings ratio of 18.07.
Impax Laboratories (NASDAQ:IPXL) last released its earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.19. The company had revenue of $118.70 million for the quarter, compared to the consensus estimate of $97.80 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down 20.1% on a year-over-year basis. On average, analysts predict that Impax Laboratories will post $0.70 earnings per share for the current fiscal year.
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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