Insider Selling: Impax Laboratories Director Sells 1,900 Shares of Stock (IPXL)
Impax Laboratories (NASDAQ:IPXL) Director Nigel Fleming unloaded 1,900 shares of Impax Laboratories stock on the open market in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.72, for a total value of $48,868.00. Following the transaction, the director now directly owns 11,266 shares in the company, valued at approximately $289,762. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Impax Laboratories (NASDAQ:IPXL) traded up 0.23% on Monday, hitting $26.23. 380,975 shares of the company’s stock traded hands. Impax Laboratories has a 52 week low of $17.60 and a 52 week high of $29.46. The stock has a 50-day moving average of $25.65 and a 200-day moving average of $24.67. The company has a market cap of $1.783 billion and a price-to-earnings ratio of 1189.55.
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. Analysts expect that Impax Laboratories will post $0.87 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Buckingham Research upgraded shares of Impax Laboratories from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $26.00 price target on the stock, up previously from $15.00. Separately, analysts at Guggenheim raised their price target on shares of Impax Laboratories from $30.00 to $32.00 in a research note on Friday, May 2nd. Finally, 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.95.
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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