Impax Laboratories Inc (IPXL) Receives Average Rating of “Hold” from Brokerages

Shares of Impax Laboratories Inc (NASDAQ:IPXL) have been assigned a consensus rating of “Hold” from the eighteen research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.41.

A number of research firms have recently issued reports on IPXL. UBS Group increased their price target on Impax Laboratories from $12.00 to $16.00 and gave the stock a “sell” rating in a research report on Monday, October 30th. Cantor Fitzgerald set a $35.00 price target on Impax Laboratories and gave the stock a “buy” rating in a research report on Friday, December 15th. Goldman Sachs Group began coverage on Impax Laboratories in a research report on Thursday, September 28th. They set a “neutral” rating and a $20.00 price target on the stock. BidaskClub raised Impax Laboratories from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 13th. Finally, Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the company a “hold” rating in a research report on Tuesday, October 17th.

Impax Laboratories (NASDAQ IPXL) opened at $20.55 on Friday. Impax Laboratories has a 12-month low of $7.75 and a 12-month high of $25.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. The stock has a market capitalization of $1,511.92, a price-to-earnings ratio of -3.29, a PEG ratio of 1.08 and a beta of 0.94.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its holdings in Impax Laboratories by 12.7% in 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 in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Impax Laboratories by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 238,473 shares of the specialty pharmaceutical company’s stock worth $3,839,000 after acquiring an additional 2,463 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Impax Laboratories by 7.9% in the second quarter. Voya Investment Management LLC now owns 33,947 shares of the specialty pharmaceutical company’s stock worth $547,000 after acquiring an additional 2,499 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Impax Laboratories by 2.2% in the second quarter. California Public Employees Retirement System now owns 114,900 shares of the specialty pharmaceutical company’s stock worth $1,850,000 after acquiring an additional 2,500 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in Impax Laboratories by 5.9% in the third quarter. American International Group Inc. now owns 58,242 shares of the specialty pharmaceutical company’s stock worth $1,182,000 after acquiring an additional 3,233 shares in the last quarter. 90.48% of the stock is owned by institutional investors and hedge funds.

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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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