Insider Selling: Larry Hsu Sells 3,800 Shares of Impax Laboratories Stock (IPXL)
Impax Laboratories (NASDAQ:IPXL) Director Larry Hsu sold 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $26.53, for a total transaction of $100,814.00. Following the completion of the transaction, the director now directly owns 459,568 shares in the company, valued at approximately $12,192,339. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Impax Laboratories (NASDAQ:IPXL) traded up 2.79% on Thursday, hitting $27.23. 666,775 shares of the company’s stock traded hands. Impax Laboratories has a one year low of $17.60 and a one year high of $29.46. The stock has a 50-day moving average of $25.70 and a 200-day moving average of $24.75. The company has a market cap of $1.851 billion and a price-to-earnings ratio of 1204.09.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. On average, analysts predict that Impax Laboratories will post $0.87 earnings per share for the current fiscal year.
A number of research firms have recently commented on IPXL. 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average 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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