Impax Laboratories Receives New Coverage from Analysts at WallachBeth Capital (IPXL)
Equities researchers at WallachBeth Capital began coverage on shares of Impax Laboratories (NASDAQ:IPXL) in a research report issued on Friday. The firm set a “buy” rating and a $32.00 price target on the stock. WallachBeth Capital’s target price points to a potential upside of 13.52% from the stock’s previous close.
IPXL has been the subject of a number of other recent research reports. 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 six have given a buy rating to the company. Impax Laboratories has a consensus rating of “Buy” and an average target price of $26.45.
Impax Laboratories (NASDAQ:IPXL) opened at 28.19 on Friday. Impax Laboratories has a 52-week low of $17.60 and a 52-week high of $29.46. The stock’s 50-day moving average is $26.64 and its 200-day moving average is $25.11. The company has a market cap of $1.916 billion and a price-to-earnings ratio of 1263.64.
Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.37 earnings per share. Impax Laboratories’s revenue was down 20.1% compared to the same quarter last year. On average, analysts predict that Impax Laboratories will post $0.87 earnings per share for the current fiscal year.
In other Impax Laboratories news, Director Peter R. Terreri sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $28.00, for a total transaction of $84,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.