Impax Laboratories Inc. (IPXL) Stock Price Up 5.1%
Shares of Impax Laboratories Inc. (NASDAQ:IPXL) were up 5.1% during mid-day trading on Monday . The company traded as high as $30.91 and last traded at $30.85, with a volume of 292,916 shares trading hands. The stock had previously closed at $29.35.
A number of analysts recently issued reports on IPXL shares. BMO Capital Markets started coverage on Impax Laboratories in a research note on Tuesday, June 28th. They set a “market perform” rating and a $30.00 price objective on the stock. Bank of America Corp. upgraded Impax Laboratories from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 21st. Deutsche Bank AG decreased their target price on Impax Laboratories from $42.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, June 22nd. BTIG Research restated a “buy” rating and issued a $48.00 target price on shares of Impax Laboratories in a research note on Friday, April 15th. Finally, Northland Securities began coverage on Impax Laboratories in a research note on Tuesday, April 19th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $41.08.
The company has a market capitalization of $2.17 billion and a P/E ratio of 64.33. The firm’s 50 day moving average is $31.56 and its 200 day moving average is $34.16.
Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.04. The company had revenue of $226 million for the quarter, compared to analysts’ expectations of $241.84 million. During the same quarter last year, the firm posted $0.09 earnings per share. Impax Laboratories’s revenue for the quarter was up 57.6% on a year-over-year basis. On average, equities analysts predict that Impax Laboratories Inc. will post $1.78 earnings per share for the current fiscal year.
Other large investors have bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in Impax Laboratories by 5.0% in the fourth quarter. Wells Fargo & Company MN now owns 40,115 shares of the specialty pharmaceutical company’s stock worth $1,715,000 after buying an additional 1,896 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Impax Laboratories by 0.7% in the fourth quarter. Neuberger Berman Group LLC now owns 55,998 shares of the specialty pharmaceutical company’s stock worth $2,394,000 after buying an additional 366 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Impax Laboratories by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 57,674 shares of the specialty pharmaceutical company’s stock worth $2,466,000 after buying an additional 793 shares in the last quarter. ProShare Advisors LLC boosted its stake in Impax Laboratories by 8.4% in the fourth quarter. ProShare Advisors LLC now owns 71,272 shares of the specialty pharmaceutical company’s stock worth $3,048,000 after buying an additional 5,531 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Impax Laboratories during the fourth quarter worth approximately $3,276,000.
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. The Company operates in two segments: Impax Generics and Impax Specialty Pharma.
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