Impax Laboratories, Inc. (NASDAQ:IPXL) received a $17.00 price objective from analysts at Royal Bank Of Canada in a research report issued on Thursday. The brokerage currently has a “hold” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 7.10% from the stock’s current price.
Several other brokerages also recently issued reports on IPXL. Canaccord Genuity assumed coverage on Impax Laboratories in a research report on Monday, July 31st. They issued a “hold” rating and a $19.00 price objective on the stock. Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Piper Jaffray Companies upgraded Impax Laboratories from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $16.00 in a research report on Tuesday, July 18th. Deutsche Bank AG set a $21.00 price objective on Impax Laboratories and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, BidaskClub upgraded Impax Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.56.
Shares of Impax Laboratories (IPXL) opened at 18.30 on Thursday. The firm has a 50 day moving average price of $17.34 and a 200-day moving average price of $14.34. The firm’s market capitalization is $1.31 billion. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $27.29.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The business had revenue of $202.08 million for the quarter, compared to the consensus estimate of $195.62 million. During the same period in the prior year, the business earned $0.21 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis. Equities research analysts predict that Impax Laboratories will post $0.68 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Impax Laboratories during the fourth quarter valued at $16,669,000. Quadrature Capital Ltd bought a new stake in shares of Impax Laboratories during the fourth quarter valued at $224,000. GW&K Investment Management LLC increased its stake in shares of Impax Laboratories by 3.1% in the first quarter. GW&K Investment Management LLC now owns 777,095 shares of the specialty pharmaceutical company’s stock valued at $9,830,000 after buying an additional 23,142 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Impax Laboratories by 60.4% in the first quarter. Bank of Montreal Can now owns 53,874 shares of the specialty pharmaceutical company’s stock valued at $681,000 after buying an additional 20,288 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock valued at $380,000 after buying an additional 300 shares during the last quarter. 83.48% of the stock is owned by institutional investors.
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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