Impax Laboratories Given Average Recommendation of “Hold” by Brokerages (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 rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $27.08.
Several analysts have recently commented on the stock. 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) opened at 24.64 on Thursday. Impax Laboratories has a one year low of $19.39 and a one year high of $31.04. The stock has a 50-day moving average of $25.47 and a 200-day moving average of $26.43. The company has a market cap of $1.681 billion and a P/E ratio of 54.30. Impax Laboratories also was the target of a significant 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. Approximately 7.9% of the company’s shares are sold short. Based on an average daily trading volume, of 820,546 shares, the short-interest ratio is presently 6.3 days.
Impax Laboratories (NASDAQ:IPXL) last announced its earnings results 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. On average, analysts predict that Impax Laboratories will post $1.21 earnings per share 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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