Impax Laboratories’ (IPXL) “Hold” Rating Reaffirmed at BMO Capital Markets
Impax Laboratories, Inc. (NASDAQ:IPXL)‘s stock had its “hold” rating reissued by stock analysts at BMO Capital Markets in a research report issued on Friday. They presently have a $16.00 target price on the specialty pharmaceutical company’s stock. BMO Capital Markets’ target price indicates a potential downside of 4.19% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Guggenheim reiterated a “buy” rating and issued a $20.00 price target on shares of Impax Laboratories in a report on Monday, March 27th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 target price (up previously from $10.00) on shares of Impax Laboratories in a report on Thursday, May 11th. Susquehanna Bancshares Inc cut shares of Impax Laboratories from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $10.00 in a report on Wednesday, March 8th. They noted that the move was a valuation call. Deutsche Bank AG set a $15.00 target price on shares of Impax Laboratories and gave the stock a “buy” rating in a report on Wednesday, April 5th. Finally, Zacks Investment Research upgraded shares of Impax Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Impax Laboratories currently has a consensus rating of “Hold” and a consensus target price of $17.70.
Shares of Impax Laboratories (NASDAQ IPXL) opened at 16.70 on Friday. The firm’s market cap is $1.20 billion. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $32.20. The firm’s 50 day moving average is $15.30 and its 200-day moving average is $13.24.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company had revenue of $184.40 million during the quarter, compared to analyst estimates of $193.17 million. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The firm’s quarterly revenue was down 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. Equities research analysts predict that Impax Laboratories will post $0.65 EPS for the current year.
A number of hedge funds have recently made changes to their positions in IPXL. Walleye Trading LLC boosted its stake in shares of Impax Laboratories by 66.1% in the second quarter. Walleye Trading LLC now owns 3,883 shares of the specialty pharmaceutical company’s stock worth $112,000 after buying an additional 1,545 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Impax Laboratories by 198.5% in the second quarter. Acrospire Investment Management LLC now owns 3,910 shares of the specialty pharmaceutical company’s stock valued at $113,000 after buying an additional 2,600 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Impax Laboratories during the third quarter valued at $102,000. BlackRock Inc. raised its position in shares of Impax Laboratories by 128.2% in the first quarter. BlackRock Inc. now owns 4,834 shares of the specialty pharmaceutical company’s stock valued at $154,000 after buying an additional 2,716 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Impax Laboratories by 625.0% in the third quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the specialty pharmaceutical company’s stock valued at $137,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 84.03% of the company’s stock.
Impax Laboratories Company Profile
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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