Impax Laboratories Inc. (IPXL) Trading Up 2.8%
Impax Laboratories Inc. (NASDAQ:IPXL)’s share price was up 2.8% on Monday . The stock traded as high as $24.29 and last traded at $24.01, with a volume of 628,548 shares traded. The stock had previously closed at $23.35.
Several equities analysts have recently weighed in on IPXL shares. Zacks Investment Research raised shares of Impax Laboratories from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Piper Jaffray Cos. restated an “overweight” rating and set a $41.00 price objective on shares of Impax Laboratories in a research report on Friday, May 27th. JPMorgan Chase & Co. initiated coverage on shares of Impax Laboratories in a research report on Wednesday, June 1st. They set a “neutral” rating and a $47.00 price objective for the company. Goldman Sachs Group Inc. initiated coverage on shares of Impax Laboratories in a research report on Monday, June 6th. They set a “sell” rating and a $33.00 price objective for the company. Finally, Bank of America Corp. upgraded shares of Impax Laboratories from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Impax Laboratories has a consensus rating of “Hold” and a consensus price target of $35.67.
The firm’s 50 day moving average price is $28.58 and its 200 day moving average price is $31.80. The company has a market capitalization of $1.70 billion and a price-to-earnings ratio of 50.68.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.32 by $0.11. The company had revenue of $173 million for the quarter, compared to analyst estimates of $223.67 million. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s quarterly revenue was down 19.4% on a year-over-year basis. On average, equities analysts anticipate that Impax Laboratories Inc. will post $1.59 EPS for the current year.
In related news, Director Leslie Z. Benet sold 10,092 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $22.81, for a total value of $230,198.52. Following the sale, the director now directly owns 40,225 shares in the company, valued at approximately $917,532.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A hedge fund recently bought a new stake in Impax Laboratories stock. Marshall Wace LLP acquired a new stake in Impax Laboratories Inc. (NASDAQ:IPXL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 76,624 shares of the specialty pharmaceutical company’s stock, valued at approximately $3,276,000. Marshall Wace LLP owned about 0.11% of Impax Laboratories at the end of the most recent quarter.
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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