Impax Laboratories, Inc. (IPXL) Given Average Recommendation of “Hold” by Analysts
Shares of Impax Laboratories, Inc. (NASDAQ:IPXL) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.18.
A number of brokerages have commented on IPXL. Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Vetr cut Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 price objective on the stock. in a research note on Monday, May 1st. Cantor Fitzgerald set a $20.00 price objective on Impax Laboratories and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Deutsche Bank AG set a $21.00 price objective on Impax Laboratories and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research cut Impax Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th.
A number of hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in shares of Impax Laboratories during the second quarter valued at $207,000. WINTON GROUP Ltd purchased a new stake in shares of Impax Laboratories during the second quarter valued at $1,066,000. Public Employees Retirement System of Ohio raised its stake in shares of Impax Laboratories by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after buying an additional 780 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Impax Laboratories during the second quarter valued at $257,000. Finally, Maverick Capital Ltd. raised its stake in shares of Impax Laboratories by 6,705.5% in the second quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock valued at $115,265,000 after buying an additional 7,054,136 shares in the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/22/impax-laboratories-inc-ipxl-given-average-recommendation-of-hold-by-analysts.html.
Impax Laboratories (NASDAQ IPXL) traded down 0.27% during trading on Tuesday, reaching $18.40. The company had a trading volume of 282,548 shares. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $27.29. The company’s market capitalization is $1.32 billion. The firm’s 50 day moving average is $17.67 and its 200-day moving average is $14.61.
Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. The firm had revenue of $202.08 million for the quarter, compared to analysts’ expectations of $195.62 million. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities analysts expect that Impax Laboratories will post $0.70 earnings per share for the current year.
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.
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.