Brokerages predict that Impax Laboratories, Inc. (NASDAQ:IPXL) will announce $198.42 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Impax Laboratories’ earnings, with the lowest sales estimate coming in at $192.52 million and the highest estimate coming in at $204.30 million. Impax Laboratories also reported sales of $198.42 million during the same quarter last year. The firm is expected to report its next earnings report on Wednesday, March 7th.
On average, analysts expect that Impax Laboratories will report full-year sales of $198.42 million for the current fiscal year, with estimates ranging from $773.61 million to $810.00 million. For the next year, analysts expect that the business will report sales of $843.92 million per share, with estimates ranging from $797.70 million to $881.48 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Impax Laboratories.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $206.40 million during the quarter, compared to the consensus estimate of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. Impax Laboratories’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share.
A number of equities analysts recently commented on the stock. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Cowen and Company set a $20.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Cantor Fitzgerald boosted their price objective on shares of Impax Laboratories from $25.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Piper Jaffray Companies set a $17.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.60.
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Several institutional investors and hedge funds have recently made changes to their positions in IPXL. Public Employees Retirement System of Ohio grew its holdings 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 valued at $111,000 after buying an additional 780 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Impax Laboratories during the third quarter valued at $201,000. Stevens Capital Management LP purchased a new stake in shares of Impax Laboratories during the third quarter valued at $203,000. Quantbot Technologies LP grew its holdings in shares of Impax Laboratories by 279.0% during the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock valued at $203,000 after buying an additional 7,384 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Impax Laboratories during the second quarter valued at $207,000. 88.32% of the stock is currently owned by hedge funds and other institutional investors.
Impax Laboratories (IPXL) opened at $17.17 on Wednesday. The company has a market cap of $1,278.46, a P/E ratio of 25.37, a P/E/G ratio of 1.09 and a beta of 0.99. Impax Laboratories has a 12 month low of $7.75 and a 12 month 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.
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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