Impax Laboratories (IPXL) Cut to “Sell” at BidaskClub

Impax Laboratories (NASDAQ:IPXL) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other equities research analysts have also recently commented on IPXL. Zacks Investment Research raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Monday, October 16th. Cantor Fitzgerald set a $25.00 price target on Impax Laboratories and gave the company a “buy” rating in a research note on Tuesday, October 17th. Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the company a “hold” rating in a research note on Tuesday, October 17th. Royal Bank of Canada set a $17.00 price target on Impax Laboratories and gave the company a “hold” rating in a research note on Tuesday, October 17th. Finally, UBS Group boosted their price target on Impax Laboratories from $12.00 to $16.00 and gave the company a “sell” rating in a research note on Monday, October 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $19.62.

Shares of Impax Laboratories (NASDAQ IPXL) traded down $0.25 on Friday, hitting $19.40. The stock had a trading volume of 643,168 shares, compared to its average volume of 903,909. The firm has a market cap of $1,420.00, a P/E ratio of -3.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70. 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 (NASDAQ:IPXL) last issued its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. equities analysts predict that Impax Laboratories will post 0.64 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in 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 purchasing an additional 780 shares during the period. Amalgamated Bank bought a new stake in Impax Laboratories during the third quarter worth approximately $201,000. Stevens Capital Management LP bought a new stake in Impax Laboratories during the third quarter worth approximately $203,000. Quantbot Technologies LP boosted its position in Impax Laboratories by 279.0% during the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after purchasing an additional 7,384 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Impax Laboratories during the second quarter worth approximately $207,000. 91.72% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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