Impax Laboratories Inc (NASDAQ:IPXL) – Analysts at Leerink Swann lifted their FY2020 earnings per share estimates for shares of Impax Laboratories in a note issued to investors on Monday, April 16th. Leerink Swann analyst A. Fadia now forecasts that the specialty pharmaceutical company will post earnings of $1.84 per share for the year, up from their previous estimate of $1.83. Leerink Swann has a “Outperform” rating and a $22.00 price objective on the stock. Leerink Swann also issued estimates for Impax Laboratories’ FY2021 earnings at $2.12 EPS and FY2022 earnings at $2.30 EPS.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Impax Laboratories had a positive return on equity of 10.42% and a negative net margin of 60.49%. The business had revenue of $182.90 million for the quarter, compared to analysts’ expectations of $199.13 million. During the same period in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year.
IPXL has been the subject of several other research reports. Zacks Investment Research lowered Impax Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Royal Bank of Canada set a $20.00 target price on Impax Laboratories and gave the stock a “hold” rating in a research note on Friday, March 2nd. BidaskClub raised Impax Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Cantor Fitzgerald set a $35.00 target price on Impax Laboratories and gave the stock a “buy” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks began coverage on Impax Laboratories in a research note on Wednesday, March 7th. They set a “buy” rating and a $24.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Impax Laboratories has a consensus rating of “Hold” and an average price target of $21.15.
Shares of NASDAQ IPXL opened at $19.70 on Wednesday. Impax Laboratories has a 12 month low of $12.45 and a 12 month high of $25.70. The company has a quick ratio of 1.52, a current ratio of 1.96 and a debt-to-equity ratio of 4.11. The stock has a market cap of $1,403.56, a PE ratio of 30.16, a price-to-earnings-growth ratio of 0.85 and a beta of 1.17.
Institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB bought a new position in shares of Impax Laboratories during the fourth quarter valued at approximately $198,000. BlueCrest Capital Management Ltd bought a new position in shares of Impax Laboratories during the fourth quarter valued at approximately $336,000. Envestnet Asset Management Inc. raised its holdings in shares of Impax Laboratories by 470.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,581 shares of the specialty pharmaceutical company’s stock valued at $343,000 after acquiring an additional 16,976 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Impax Laboratories during the fourth quarter valued at approximately $393,000. Finally, Commerce Bank raised its holdings in shares of Impax Laboratories by 112.7% during the fourth quarter. Commerce Bank now owns 24,375 shares of the specialty pharmaceutical company’s stock valued at $406,000 after acquiring an additional 12,915 shares in the last quarter. 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.
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