Leerink Swann started coverage on shares of Impax Laboratories (NASDAQ:IPXL) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $22.00 price target on the specialty pharmaceutical company’s stock. Leerink Swann also issued estimates for Impax Laboratories’ Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $0.65 EPS, Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.15 EPS, FY2019 earnings at $1.45 EPS, FY2020 earnings at $1.64 EPS, FY2021 earnings at $1.89 EPS and FY2022 earnings at $2.05 EPS.
Other research analysts also recently issued reports about the stock. Cantor Fitzgerald set a $25.00 price objective on shares of Impax Laboratories and gave the stock a buy rating in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Impax Laboratories from a hold rating to a buy rating and set a $23.00 price objective on the stock in a research report on Monday, October 16th. BTIG Research reissued a buy rating and set a $27.00 price objective (up from $20.00) on shares of Impax Laboratories in a research report on Saturday, September 23rd. Deutsche Bank reissued a buy rating and set a $23.00 price objective on shares of Impax Laboratories in a research report on Tuesday, September 19th. Finally, Citigroup 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. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $19.62.
Shares of Impax Laboratories (IPXL) traded down $0.25 during trading on Tuesday, reaching $17.25. 1,076,800 shares of the company’s stock traded hands, compared to its average volume of 841,667. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $25.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32. The stock has a market cap of $1,290.00, a P/E ratio of -2.76, a P/E/G ratio of 0.70 and a beta of 0.94.
Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Impax Laboratories by 12.7% in 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 purchasing an additional 780 shares during the period. Amalgamated Bank acquired a new stake in shares of Impax Laboratories in the third quarter valued at about $201,000. Stevens Capital Management LP acquired a new stake in shares of Impax Laboratories in the third quarter valued at about $203,000. Quantbot Technologies LP lifted its stake in shares of Impax Laboratories by 279.0% in the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock valued at $203,000 after purchasing an additional 7,384 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Impax Laboratories in the second quarter valued at about $207,000. 90.48% of the stock is currently owned by institutional investors and hedge funds.
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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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