UBS AG Boosts Impax Laboratories, Inc. (IPXL) Price Target to $16.00
Impax Laboratories, Inc. (NASDAQ:IPXL) had its price target lifted by equities researchers at UBS AG from $12.00 to $16.00 in a research note issued to investors on Monday, www.benzinga.com reports. The brokerage presently has a “sell” rating on the specialty pharmaceutical company’s stock. UBS AG’s price target points to a potential downside of 13.51% from the company’s current price.
A number of other analysts have also commented on IPXL. Cantor Fitzgerald lifted their price target on Impax Laboratories from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, September 11th. Zacks Investment Research raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, July 11th. Citigroup Inc. lifted their price target on Impax Laboratories to $23.00 and gave the company a “buy” rating in a research note on Tuesday, September 19th. BTIG Research reissued a “buy” rating and set a $27.00 price target (up from $20.00) on shares of Impax Laboratories in a research note on Saturday, September 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $23.00 price target on shares of Impax Laboratories in a research note on Tuesday, September 19th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.14.
Shares of Impax Laboratories (IPXL) traded down 2.12% on Monday, reaching $18.50. 1,496,561 shares of the company traded hands. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70. The firm’s 50 day moving average is $21.17 and its 200 day moving average is $17.64. The company’s market capitalization is $1.33 billion.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data 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. The business had revenue of $202.08 million for 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 revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Analysts expect that Impax Laboratories will post $0.70 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised 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 acquiring an additional 780 shares during the last quarter. Appleton Partners Inc. MA bought a new position in shares of Impax Laboratories during the second quarter worth about $191,000. Advisory Services Network LLC bought a new position in shares of Impax Laboratories during the second quarter worth about $207,000. Virtu KCG Holdings LLC bought a new position in shares of Impax Laboratories during the second quarter worth about $231,000. Finally, State of Alaska Department of Revenue raised its position in shares of Impax Laboratories by 78.7% during the second quarter. State of Alaska Department of Revenue now owns 14,548 shares of the specialty pharmaceutical company’s stock worth $234,000 after acquiring an additional 6,408 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.
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.
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