Impax Laboratories, Inc. (NASDAQ:IPXL) had its price objective raised by stock analysts at Cantor Fitzgerald from $20.00 to $25.00 in a research report issued on Monday. The brokerage currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 18.48% from the company’s current price.

A number of other brokerages have also recently issued reports on IPXL. Canaccord Genuity assumed coverage on shares of Impax Laboratories in a report on Monday, July 31st. They issued a “hold” rating and a $19.00 target price on the stock. Zacks Investment Research cut shares of Impax Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Deutsche Bank AG set a $21.00 target price on shares of Impax Laboratories and gave the company a “buy” rating in a report on Monday, July 17th. Piper Jaffray Companies raised shares of 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 report on Tuesday, July 18th. Finally, BidaskClub raised shares of Impax Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Impax Laboratories currently has an average rating of “Hold” and an average target price of $18.16.

Impax Laboratories (NASDAQ IPXL) traded up 4.147% during trading on Monday, hitting $21.975. The stock had a trading volume of 367,355 shares. The stock has a 50 day moving average price of $18.67 and a 200 day moving average price of $15.15. The company’s market capitalization is $1.58 billion. Impax Laboratories has a 12-month low of $7.75 and a 12-month high of $27.29.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $202.08 million for the quarter, compared to analysts’ expectations of $195.62 million. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. Impax Laboratories’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Equities research analysts forecast that Impax Laboratories will post $0.70 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can raised its holdings in Impax Laboratories by 3.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 106,856 shares of the specialty pharmaceutical company’s stock valued at $1,715,000 after acquiring an additional 3,350 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Impax Laboratories during the first quarter worth approximately $1,577,000. Vanguard Group Inc. increased its holdings in shares of Impax Laboratories by 4.6% during the first quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock worth $79,080,000 after purchasing an additional 276,765 shares during the period. Frontier Capital Management Co. LLC increased its holdings in shares of Impax Laboratories by 43.2% during the second quarter. Frontier Capital Management Co. LLC now owns 1,585,828 shares of the specialty pharmaceutical company’s stock worth $25,532,000 after purchasing an additional 478,168 shares during the period. Finally, American Century Companies Inc. bought a new position in shares of Impax Laboratories during the first quarter worth approximately $1,195,000. 86.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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