Impax Laboratories (IPXL) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Impax Laboratories (NASDAQ:IPXL) from a hold rating to a sell rating in a research note released on Thursday.

Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Impax Laboratories from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Friday, March 16th. Cantor Fitzgerald set a $35.00 price target on Impax Laboratories and gave the company a buy rating in a report on Friday, December 15th. SunTrust Banks started coverage on Impax Laboratories in a report on Wednesday, March 7th. They set a buy rating and a $24.00 price target on the stock. Royal Bank of Canada set a $20.00 price target on Impax Laboratories and gave the company a hold rating in a report on Friday, March 2nd. Finally, Cowen set a $21.00 price target on Impax Laboratories and gave the company a hold rating in a report on Thursday, March 1st. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Impax Laboratories presently has a consensus rating of Hold and a consensus price target of $20.91.

Shares of IPXL stock opened at $18.35 on Thursday. Impax Laboratories has a 1-year low of $12.45 and a 1-year 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 firm has a market cap of $1,353.04, a PE ratio of 29.13, a price-to-earnings-growth ratio of 0.82 and a beta of 1.17.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB purchased a new position in Impax Laboratories in the fourth quarter valued at about $198,000. BlueCrest Capital Management Ltd bought a new stake in shares of Impax Laboratories during the 4th quarter worth about $336,000. Envestnet Asset Management Inc. boosted its stake in shares of Impax Laboratories by 470.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,581 shares of the specialty pharmaceutical company’s stock worth $343,000 after acquiring an additional 16,976 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Impax Laboratories during the 4th quarter worth about $393,000. Finally, Commerce Bank boosted its stake in shares of Impax Laboratories by 112.7% during the 4th quarter. Commerce Bank now owns 24,375 shares of the specialty pharmaceutical company’s stock worth $406,000 after acquiring an additional 12,915 shares in the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.

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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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