Impax Laboratories Receives Average Recommendation of “Hold” from Analysts (NASDAQ:IPXL)
Impax Laboratories (NASDAQ:IPXL) has received an average rating of “Hold” from the eighteen brokerages that are presently covering the company, Analyst Ratings Network.com reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $27.08.
A number of analysts have recently weighed in on IPXL shares. Analysts at Wunderlich downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Separately, analysts at WallachBeth Capital downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Impax Laboratories from $27.00 to $25.00 in a research note on Wednesday, July 30th.
Impax Laboratories (NASDAQ:IPXL) traded down 0.12% during mid-day trading on Thursday, hitting $24.50. 104,176 shares of the company’s stock traded hands. Impax Laboratories has a 52-week low of $19.39 and a 52-week high of $31.04. The stock has a 50-day moving average of $25.80 and a 200-day moving average of $26.4. The company has a market cap of $1.671 billion and a price-to-earnings ratio of 54.03. Impax Laboratories also saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 5,148,398 shares, a decrease of 32.9% from the July 31st total of 7,671,993 shares. Based on an average daily volume of 820,546 shares, the short-interest ratio is presently 6.3 days. Currently, 7.9% of the company’s shares are sold short.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.24. The company had revenue of $188.10 million for the quarter, compared to the consensus estimate of $155.97 million. During the same quarter last year, the company posted $0.23 earnings per share. Impax Laboratories’s revenue was up 87.7% compared to the same quarter last year. Analysts expect that Impax Laboratories will post $1.21 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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