Impax Laboratories (NASDAQ:IPXL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Impax's epinephrine auto-injector sales have picked up and the company has 18 ANDAs pending FDA approval. Impax’s generics pipeline should be able to take advantage of the upcoming patent expirations amid competitive and pricing pressure, which is expected to persist through 2017. Meanwhile, Impax is taking steps to reduce costs and improve efficiencies, which may save an estimated $130 million by the end of 2019. The merger with Amneal Pharma is a positive for Impax as it will have a diverse pipeline with more than 300 products under review or late stage development. However, the company’s manufacturing facilities have been hampered by quality control issues since 2011, which delayed Rytary’s approval. Impax’s shares have outperformed the industry in the past one year. Estimates have remained stable ahead of the Q4 earnings results. The company has a mixed record of earnings surprises in recent quarters.”

A number of other analysts have also issued reports on IPXL. BidaskClub raised shares of Impax Laboratories from a “strong sell” rating to a “sell” rating in a research report on Saturday. Leerink Swann began coverage on shares of Impax Laboratories in a research report on Tuesday, January 2nd. They issued an “outperform” rating and a $22.00 price target for the company. Canaccord Genuity set a $19.00 price target on shares of Impax Laboratories and gave the stock a “hold” rating in a research report on Monday, December 18th. Cantor Fitzgerald set a $35.00 price target on shares of Impax Laboratories and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Guggenheim began coverage on shares of Impax Laboratories in a research report on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.62.

Impax Laboratories (IPXL) traded up $0.60 during mid-day trading on Monday, reaching $19.10. 727,100 shares of the company’s stock were exchanged, compared to its average volume of 809,100. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 1.59. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $25.70. The stock has a market capitalization of $1,415.57, a price-to-earnings ratio of -3.06, a PEG ratio of 1.01 and a beta of 0.94.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The company had revenue of $206.40 million during the quarter, compared to analyst estimates of $208.38 million. During the same period in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was down 9.4% on a year-over-year basis. analysts forecast that Impax Laboratories will post 0.64 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. increased its holdings in 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 worth $115,265,000 after buying an additional 7,054,136 shares during the last quarter. Vanguard Group Inc. increased its holdings in Impax Laboratories by 9.1% in 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 during the last quarter. Fosun International Ltd increased its holdings in Impax Laboratories by 1,185.0% in the third quarter. Fosun International Ltd now owns 3,854,995 shares of the specialty pharmaceutical company’s stock worth $78,256,000 after buying an additional 3,554,995 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Impax Laboratories by 23.0% in 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 during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Impax Laboratories by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 1,620,548 shares of the specialty pharmaceutical company’s stock worth $32,897,000 after buying an additional 34,720 shares during the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.

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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.

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Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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