BTIG Research Reiterates Buy Rating for Impax Laboratories, Inc. (IPXL)

Impax Laboratories, Inc. (NASDAQ:IPXL)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research note issued on Saturday. They currently have a $27.00 price objective on the specialty pharmaceutical company’s stock, up from their prior price objective of $20.00. BTIG Research’s price target would suggest a potential upside of 17.39% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $23.00 target price on shares of Impax Laboratories in a report on Tuesday, September 19th. Citigroup Inc. lifted their target price on shares of Impax Laboratories to $23.00 and gave the company a “buy” rating in a report on Tuesday, September 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $17.00 target price on shares of Impax Laboratories in a report on Sunday, September 17th. Cantor Fitzgerald lifted their target price on shares of Impax Laboratories from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, September 11th. Finally, Royal Bank Of Canada set a $17.00 target price on shares of Impax Laboratories and gave the company a “hold” rating in a report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.03.

Impax Laboratories (NASDAQ IPXL) opened at 23.00 on Friday. The company’s market cap is $1.65 billion. The company has a 50-day moving average price of $19.12 and a 200 day moving average price of $15.63. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $27.29.

Impax Laboratories (NASDAQ:IPXL) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The firm had revenue of $202.08 million during the quarter, compared to the consensus estimate of $195.62 million. During the same quarter last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Impax Laboratories will post $0.70 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its stake 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 worth $111,000 after purchasing an additional 780 shares in the last quarter. Appleton Partners Inc. MA acquired a new position in shares of Impax Laboratories during the second quarter worth $191,000. Advisory Services Network LLC acquired a new position in shares of Impax Laboratories during the second quarter worth $207,000. Virtu KCG Holdings LLC acquired a new position in shares of Impax Laboratories during the second quarter worth $231,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Impax Laboratories by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock worth $182,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.

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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