Impax Laboratories, Inc. (IPXL) Stock Rating Reaffirmed by Cowen and Company

Impax Laboratories, Inc. (NASDAQ:IPXL)‘s stock had its “hold” rating reiterated by stock analysts at Cowen and Company in a note issued to investors on Friday. They presently have a $16.00 price target on the specialty pharmaceutical company’s stock. Cowen and Company’s price objective points to a potential downside of 12.57% from the stock’s previous close.

Several other research analysts have also commented on the company. Cantor Fitzgerald lifted their target price on Impax Laboratories from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. UBS AG lifted their target price on Impax Laboratories from $12.00 to $16.00 and gave the stock a “sell” rating in a research report on Monday, October 30th. Zacks Investment Research lowered Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Royal Bank of Canada set a $17.00 target price on Impax Laboratories and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Finally, Canaccord Genuity set a $19.00 target price on Impax Laboratories and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Impax Laboratories presently has a consensus rating of “Hold” and an average target price of $19.50.

Shares of Impax Laboratories (NASDAQ:IPXL) opened at $18.30 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 1.59. Impax Laboratories has a twelve month low of $7.75 and a twelve month high of $25.70. The stock has a market capitalization of $1,450.00, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.06 and a beta of 0.99.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $206.40 million during 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 business’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. equities analysts anticipate that Impax Laboratories will post 0.65 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in IPXL. FMR LLC raised its stake in Impax Laboratories by 23.7% during the 1st quarter. FMR LLC now owns 498,500 shares of the specialty pharmaceutical company’s stock valued at $6,306,000 after acquiring an additional 95,432 shares in the last quarter. Teachers Advisors LLC raised its stake in Impax Laboratories by 1.7% during the 1st quarter. Teachers Advisors LLC now owns 122,785 shares of the specialty pharmaceutical company’s stock valued at $1,553,000 after acquiring an additional 2,073 shares in the last quarter. Legal & General Group Plc raised its stake in Impax Laboratories by 0.5% during the 1st quarter. Legal & General Group Plc now owns 131,834 shares of the specialty pharmaceutical company’s stock valued at $1,668,000 after acquiring an additional 610 shares in the last quarter. Vanguard Group Inc. raised its stake in Impax Laboratories by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock valued at $79,080,000 after acquiring an additional 276,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Impax Laboratories by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock valued at $33,359,000 after acquiring an additional 845,375 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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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