$0.14 EPS Expected for Impax Laboratories, Inc. (IPXL) This Quarter
Analysts expect Impax Laboratories, Inc. (NASDAQ:IPXL) to report earnings per share (EPS) of $0.14 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Impax Laboratories’ earnings. The lowest EPS estimate is $0.12 and the highest is $0.17. Impax Laboratories posted earnings of $0.21 per share in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Impax Laboratories will report full year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.62 to $0.66. For the next year, analysts expect that the business will post earnings of $1.09 per share, with EPS estimates ranging from $0.80 to $1.35. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Impax Laboratories.
Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by $0.01. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The business had revenue of $184.40 million for the quarter, compared to analysts’ expectations of $193.17 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was down 18.2% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Piper Jaffray Companies raised Impax Laboratories from an “underweight” rating to a “neutral” rating and upped their target price for the company from $9.00 to $16.00 in a research report on Tuesday. Deutsche Bank AG set a $21.00 target price on Impax Laboratories and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research lowered shares of Impax Laboratories from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada set a $15.00 price target on shares of Impax Laboratories and gave the company a “hold” rating in a report on Sunday, July 16th. Finally, BidaskClub raised shares of Impax Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.60.
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A number of hedge funds have recently added to or reduced their stakes in IPXL. Norges Bank acquired a new stake in Impax Laboratories during the fourth quarter worth approximately $16,669,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Impax Laboratories during the first quarter worth about $14,012,000. North Tide Capital LLC increased its stake 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 worth $37,950,000 after buying an additional 1,000,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $33,359,000 after buying an additional 845,375 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Impax Laboratories by 88.4% in the first quarter. Point72 Asset Management L.P. now owns 1,095,600 shares of the specialty pharmaceutical company’s stock worth $13,859,000 after buying an additional 514,200 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.
Impax Laboratories (IPXL) traded down 0.975% during trading on Friday, hitting $17.775. The stock had a trading volume of 239,949 shares. The firm’s market cap is $1.27 billion. The company’s 50 day moving average is $16.20 and its 200 day moving average is $13.78. Impax Laboratories has a 52-week low of $7.75 and a 52-week high of $31.85.
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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