Brokerages expect that Impax Laboratories Inc (NASDAQ:IPXL) will report $184.90 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Impax Laboratories’ earnings, with the highest sales estimate coming in at $198.88 million and the lowest estimate coming in at $172.43 million. Impax Laboratories posted sales of $184.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.3%. The firm is expected to report its next quarterly earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that Impax Laboratories will report full-year sales of $184.90 million for the current year, with estimates ranging from $1.63 billion to $1.80 billion. For the next financial year, analysts forecast that the company will report sales of $2.23 billion per share, with estimates ranging from $2.09 billion to $2.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Impax Laboratories.
Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). The firm had revenue of $182.90 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.16 EPS.
Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub upgraded shares of Impax Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. SunTrust Banks assumed coverage on shares of Impax Laboratories in a research report on Wednesday, March 7th. They set a “buy” rating and a $24.00 price target for the company. Royal Bank of Canada set a $20.00 price target on shares of Impax Laboratories and gave the company a “hold” rating in a research report on Friday, March 2nd. Finally, Cowen set a $21.00 price target on shares of Impax Laboratories and gave the company a “hold” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $20.91.
Institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP purchased a new stake in Impax Laboratories in the third quarter worth about $1,692,000. Alyeska Investment Group L.P. bought a new position in shares of Impax Laboratories during the third quarter valued at approximately $9,470,000. Janus Henderson Group PLC bought a new position in shares of Impax Laboratories during the third quarter valued at approximately $28,573,000. Nationwide Fund Advisors increased its stake in shares of Impax Laboratories by 60.1% during the third quarter. Nationwide Fund Advisors now owns 76,769 shares of the specialty pharmaceutical company’s stock valued at $1,558,000 after purchasing an additional 28,830 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Impax Laboratories during the third quarter valued at approximately $346,000. Institutional investors and hedge funds own 90.40% of the company’s stock.
Impax Laboratories stock traded down $0.60 on Friday, reaching $20.45. The company had a trading volume of 497,688 shares, compared to its average volume of 1,015,466. The company has a market capitalization of $1,556.36, a PE ratio of -3.14, a PEG ratio of 0.89 and a beta of 1.01. The company has a current ratio of 1.96, a quick ratio of 1.52 and a debt-to-equity ratio of 4.11. Impax Laboratories has a 1-year low of $8.80 and a 1-year high of $25.70.
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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.
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