Impax Laboratories, Inc. (NASDAQ:IPXL)‘s stock had its “hold” rating restated by stock analysts at Piper Jaffray Companies in a report released on Sunday. They currently have a $17.00 price target on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 18.27% from the company’s previous close.

Several other research firms have also recently weighed in on IPXL. Cantor Fitzgerald raised their target price on shares of Impax Laboratories from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, September 11th. Canaccord Genuity assumed coverage on shares of Impax Laboratories in a research note on Monday, July 31st. They issued a “hold” rating and a $19.00 target price for the company. Zacks Investment Research cut shares of Impax Laboratories from a “hold” rating to a “strong sell” rating in a research note 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 research note on Monday, July 17th. Finally, BidaskClub raised shares of Impax Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.16.

Shares of Impax Laboratories (NASDAQ IPXL) opened at 20.80 on Friday. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $27.29. The firm’s market capitalization is $1.49 billion. The stock has a 50 day moving average of $19.04 and a 200-day moving average of $15.40.

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

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Maverick Capital Ltd. lifted its holdings in shares of Impax Laboratories by 6,705.5% during the second quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock worth $115,265,000 after buying an additional 7,054,136 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Impax Laboratories by 9.1% during the second quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock worth $109,820,000 after buying an additional 569,723 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Impax Laboratories by 23.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock worth $52,238,000 after buying an additional 607,503 shares in the last quarter. North Tide Capital LLC lifted its holdings in shares of Impax Laboratories by 50.0% during 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. Finally, Frontier Capital Management Co. LLC lifted 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 buying an additional 478,168 shares in the last quarter. 86.26% of the stock is owned by institutional investors.

About Impax Laboratories

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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