Impax Laboratories Director Larry Hsu Unloads 100,000 Shares (IPXL)
Impax Laboratories (NASDAQ:IPXL) Director Larry Hsu unloaded 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $28.38, for a total value of $2,838,000.00. Following the completion of the sale, the director now directly owns 309,568 shares in the company, valued at approximately $8,785,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on IPXL. Analysts at WallachBeth Capital initiated coverage on shares of Impax Laboratories in a research note on Friday. They set a “buy” rating and a $32.00 price target on the stock. Separately, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $26.45.
Impax Laboratories (NASDAQ:IPXL) traded down 0.45% during mid-day trading on Monday, hitting $28.61. The stock had a trading volume of 545,773 shares. Impax Laboratories has a one year low of $17.60 and a one year high of $29.46. The stock’s 50-day moving average is $26.8 and its 200-day moving average is $25.23. The company has a market cap of $1.944 billion and a price-to-earnings ratio of 1306.36.
Impax Laboratories (NASDAQ:IPXL) last released its earnings data 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. Analysts expect that Impax Laboratories will post $0.87 EPS 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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