Analysts expect Impax Laboratories, Inc. (NASDAQ:IPXL) to report $196.18 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Impax Laboratories’ earnings, with the lowest sales estimate coming in at $193.74 million and the highest estimate coming in at $200.73 million. Impax Laboratories reported sales of $172.59 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.7%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, August 9th.

On average, analysts expect that Impax Laboratories will report full year sales of $196.18 million for the current fiscal year, with estimates ranging from $762.10 million to $795.66 million. For the next fiscal year, analysts anticipate that the company will report sales of $825.35 million per share, with estimates ranging from $812.65 million to $840.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Impax Laboratories.

Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $193.17 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Impax Laboratories’s revenue was down 18.2% on a year-over-year basis.

IPXL has been the topic of a number of analyst reports. Zacks Investment Research cut Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BMO Capital Markets restated a “hold” rating and set a $16.00 target price on shares of Impax Laboratories in a research report on Friday, June 23rd. Janney Montgomery Scott restated a “neutral” rating and set a $21.00 target price on shares of Impax Laboratories in a research report on Monday, June 12th. Cantor Fitzgerald initiated coverage on Impax Laboratories in a research report on Friday, June 16th. They set an “overweight” rating and a $20.00 target price on the stock. Finally, Guggenheim restated a “buy” rating and set a $20.00 target price on shares of Impax Laboratories in a research report on Monday, March 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.60.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock worth $102,000 after buying an additional 150 shares during the period. Massachusetts Financial Services Co. MA raised its position in Impax Laboratories by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock worth $182,000 after buying an additional 171 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Impax Laboratories by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock worth $214,000 after buying an additional 280 shares during the period. Louisiana State Employees Retirement System raised its position in Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock worth $380,000 after buying an additional 300 shares during the period. Finally, Arizona State Retirement System raised its position in Impax Laboratories by 0.8% in the first quarter. Arizona State Retirement System now owns 38,376 shares of the specialty pharmaceutical company’s stock worth $485,000 after buying an additional 300 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Impax Laboratories (NASDAQ:IPXL) opened at 18.15 on Friday. The stock has a 50 day moving average price of $16.20 and a 200 day moving average price of $13.78. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $31.85. The stock’s market capitalization is $1.30 billion.

COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Expect Impax Laboratories, Inc. (IPXL) Will Post Quarterly Sales of $196.18 Million” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/23/zacks-brokerages-expect-impax-laboratories-inc-ipxl-will-post-quarterly-sales-of-196-18-million.html.

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.

Get a free copy of the Zacks research report on Impax Laboratories (IPXL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Impax Laboratories (NASDAQ:IPXL)

Receive News & Ratings for Impax Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impax Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.