Impax Laboratories’ (IPXL) “Hold” Rating Reiterated at Royal Bank Of Canada
Impax Laboratories, Inc. (NASDAQ:IPXL)‘s stock had its “hold” rating reissued by investment analysts at Royal Bank Of Canada in a research note issued on Tuesday. They presently have a $15.00 price objective on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 8.30% from the company’s previous close.
A number of other equities analysts have also recently issued reports on IPXL. Janney Montgomery Scott restated a “neutral” rating and set a $21.00 price objective on shares of Impax Laboratories in a report on Monday, June 12th. Zacks Investment Research cut Impax Laboratories from a “buy” rating to a “strong sell” rating in a report on Monday, March 6th. Vetr cut Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 target price for the company. in a report on Monday, April 24th. Deutsche Bank AG raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, March 8th. Finally, Piper Jaffray Companies lowered Impax Laboratories from a “neutral” rating to an “underweight” rating and set a $7.00 price target for the company. in a research report on Wednesday, March 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.84.
Impax Laboratories (NASDAQ:IPXL) remained flat at $13.85 during mid-day trading on Tuesday. 2,859,028 shares of the company traded hands. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $32.52. The firm has a 50 day moving average of $15.22 and a 200-day moving average of $13.24. The company’s market cap is $991.62 million.
Impax Laboratories (NASDAQ:IPXL) last announced its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01. Impax Laboratories had a positive return on equity of 7.71% and a negative net margin of 71.50%. The company had revenue of $184.40 million during the quarter, compared to analysts’ expectations of $193.17 million. During the same quarter last year, the firm posted $0.43 EPS. Impax Laboratories’s revenue for the quarter was down 18.2% compared to the same quarter last year. Equities research analysts predict that Impax Laboratories will post $0.65 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Impax Laboratories by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock valued at $79,080,000 after buying an additional 276,765 shares in the last quarter. North Tide Capital LLC raised its position in shares of Impax Laboratories by 50.0% in the first quarter. North Tide Capital LLC now owns 3,000,000 shares of the specialty pharmaceutical company’s stock valued at $37,950,000 after buying an additional 1,000,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Impax Laboratories by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock valued at $33,359,000 after buying an additional 845,375 shares in the last quarter. Norges Bank acquired a new position in shares of Impax Laboratories during the fourth quarter valued at about $16,669,000. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Impax Laboratories during the first quarter valued at about $14,012,000. 85.12% of the stock is currently owned by institutional investors.
About Impax Laboratories
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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