Impax Laboratories Hits New 1-Year High at $29.89 (IPXL)
Impax Laboratories (NASDAQ:IPXL) hit a new 52-week high on Friday , Analyst Ratings.Net reports. The stock traded as high as $29.89 and last traded at $29.87, with a volume of 214,182 shares changing hands. The stock had previously closed at $29.26.
A number of research firms have recently commented on IPXL. Analysts at Wells Fargo & Co. initiated coverage on shares of Impax Laboratories in a research note on Tuesday, June 10th. They set a “market perform” rating on the stock. Separately, analysts at WallachBeth Capital initiated coverage on shares of Impax Laboratories in a research note on Friday, June 6th. They set a “buy” rating and a $32.00 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Impax Laboratories has an average rating of “Hold” and an average target price of $26.45.
The stock’s 50-day moving average is $27.35 and its 200-day moving average is $25.48. The company has a market cap of $2.039 billion and a P/E ratio of 1330.00.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly 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. On average, analysts predict that Impax Laboratories will post $0.88 earnings per share for the current fiscal year.
In other Impax Laboratories news, Director Larry Hsu sold 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 transaction of $2,838,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at 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.
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