Impax Laboratories, Inc. (NASDAQ:IPXL) had its target price lifted by Cantor Fitzgerald from $25.00 to $35.00 in a report issued on Friday. They currently have an overweight rating on the specialty pharmaceutical company’s stock.
A number of other equities analysts have also weighed in on the company. UBS AG boosted their price objective on Impax Laboratories from $12.00 to $16.00 and gave the stock a sell rating in a research note on Monday, October 30th. Zacks Investment Research lowered Impax Laboratories from a hold rating to a sell rating in a research note on Friday, October 20th. Royal Bank Of Canada set a $17.00 price objective on Impax Laboratories and gave the stock a hold rating in a research note on Tuesday, October 17th. Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the stock a hold rating in a research note on Tuesday, October 17th. Finally, Goldman Sachs Group, Inc. (The) began coverage on Impax Laboratories in a research note on Thursday, September 28th. They set a neutral rating and a $20.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $19.50.
Impax Laboratories (NASDAQ IPXL) traded up $1.15 during midday trading on Friday, reaching $18.30. The company’s stock had a trading volume of 1,388,800 shares, compared to its average volume of 1,871,831. The firm has a market capitalization of $1,356.28, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.13 and a beta of 0.99. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $206.40 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. equities research analysts predict that Impax Laboratories will post 0.64 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Maverick Capital Ltd. lifted its stake in Impax Laboratories by 6,705.5% during the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock worth $115,265,000 after acquiring an additional 7,054,136 shares in the last quarter. Vanguard Group Inc. lifted its stake in Impax Laboratories by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock worth $109,820,000 after acquiring an additional 569,723 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Impax Laboratories by 23.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock worth $52,238,000 after acquiring an additional 607,503 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Impax Laboratories by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,620,548 shares of the specialty pharmaceutical company’s stock worth $32,897,000 after acquiring an additional 34,720 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Impax Laboratories during the 3rd quarter worth about $30,329,000. 88.32% of the stock is currently owned by hedge funds and other 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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