Shares of Impax Laboratories, Inc. (NASDAQ:IPXL) have received a consensus recommendation of “Hold” from the twenty research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.10.

Several analysts recently weighed in on the company. Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the company a “hold” rating in a report on Wednesday, August 9th. Royal Bank Of Canada set a $17.00 price objective on Impax Laboratories and gave the company a “hold” rating in a report on Thursday, August 10th. Piper Jaffray Companies set a $17.00 price objective on Impax Laboratories and gave the company a “hold” rating in a report on Thursday, August 10th. Cantor Fitzgerald set a $20.00 price objective on Impax Laboratories and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Cowen and Company set a $20.00 price objective on Impax Laboratories and gave the company a “hold” rating in a report on Wednesday, August 9th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Impax Laboratories during the second quarter worth approximately $207,000. WINTON GROUP Ltd acquired a new position in shares of Impax Laboratories during the second quarter worth approximately $1,066,000. Public Employees Retirement System of Ohio boosted its position in shares of Impax Laboratories by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock worth $111,000 after buying an additional 780 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Impax Laboratories during the second quarter worth approximately $257,000. Finally, Maverick Capital Ltd. boosted its position 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 during the period. Institutional investors and hedge funds own 86.26% of the company’s stock.

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Shares of Impax Laboratories (IPXL) traded down 0.119% during mid-day trading on Wednesday, hitting $20.975. The company had a trading volume of 99,911 shares. Impax Laboratories has a 52-week low of $7.75 and a 52-week high of $25.70. The stock’s market cap is $1.56 billion. The stock’s 50-day moving average is $21.00 and its 200-day moving average is $17.01.

Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The firm had revenue of $202.08 million during the quarter, compared to analyst estimates of $195.62 million. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. Impax Laboratories’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Equities analysts forecast 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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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