BMO Capital Markets Increases Impax Laboratories (IPXL) Price Target to $20.00

Impax Laboratories (NASDAQ:IPXL) had its price target increased by stock analysts at BMO Capital Markets from $18.00 to $20.00 in a report released on Monday. The brokerage currently has a “market perform” rating on the specialty pharmaceutical company’s stock. BMO Capital Markets’ target price indicates a potential upside of 8.99% from the stock’s current price.

Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. ValuEngine lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the company a “hold” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded 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 note on Friday, March 16th. Finally, Cowen set a $21.00 price objective on shares of Impax Laboratories and gave the company a “hold” rating in a research note on Thursday, March 1st. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.15.

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IPXL stock opened at $18.35 on Monday. Impax Laboratories has a 52-week low of $12.45 and a 52-week high of $25.70. The company has a current ratio of 1.96, a quick ratio of 1.52 and a debt-to-equity ratio of 4.11. The company has a market cap of $1,355.54, a PE ratio of 29.13, a PEG ratio of 0.82 and a beta of 1.17.

Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings results on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). The firm had revenue of $182.90 million for the quarter, compared to analyst estimates of $199.13 million. Impax Laboratories had a negative net margin of 60.49% and a positive return on equity of 10.42%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS. equities research analysts anticipate that Impax Laboratories will post 1.21 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of IPXL. TCW Group Inc. boosted its holdings in shares of Impax Laboratories by 3,904.5% during the 4th quarter. TCW Group Inc. now owns 1,987,950 shares of the specialty pharmaceutical company’s stock worth $33,099,000 after buying an additional 1,938,307 shares during the period. Janus Henderson Group PLC bought a new stake in Impax Laboratories in the 3rd quarter valued at $28,573,000. GW&K Investment Management LLC boosted its holdings in Impax Laboratories by 147.5% in the 4th quarter. GW&K Investment Management LLC now owns 1,859,924 shares of the specialty pharmaceutical company’s stock valued at $30,968,000 after purchasing an additional 1,108,348 shares during the period. Maverick Capital Ltd. boosted its holdings in Impax Laboratories by 12.8% in the 4th quarter. Maverick Capital Ltd. now owns 7,327,798 shares of the specialty pharmaceutical company’s stock valued at $122,008,000 after purchasing an additional 833,500 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Impax Laboratories by 103.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,279,300 shares of the specialty pharmaceutical company’s stock valued at $21,300,000 after purchasing an additional 649,200 shares during the period. 90.40% of the stock is owned by institutional investors and hedge funds.

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Impax Laboratories Company Profile

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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