Impax Laboratories Inc. (IPXL) Trading 2.8% Higher
Shares of Impax Laboratories Inc. (NASDAQ:IPXL) traded up 2.8% during mid-day trading on Monday . The stock traded as high as $24.29 and last traded at $24.01, with a volume of 628,548 shares changing hands. The stock had previously closed at $23.35.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Impax Laboratories from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Goldman Sachs Group Inc. assumed coverage on shares of Impax Laboratories in a research report on Monday, June 6th. They set a “sell” rating and a $33.00 target price for the company. 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 target price for the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $41.00 price target on shares of Impax Laboratories in a report on Friday, May 27th. Finally, Bank of America Corp. raised shares of Impax Laboratories from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.67.
The stock’s 50 day moving average price is $28.30 and its 200-day moving average price is $31.59. The firm has a market cap of $1.78 billion and a P/E ratio of 52.92.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The company had revenue of $173 million for the quarter, compared to the consensus estimate of $223.67 million. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, analysts forecast 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 stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $22.81, for a total value of $230,198.52. Following the transaction, the director now owns 40,225 shares in the company, valued at approximately $917,532.25. The sale was disclosed in a filing with the SEC, which is available through this link.
A hedge fund recently bought a new stake in Impax Laboratories stock. Marshall Wace LLP purchased a new stake in Impax Laboratories Inc. (NASDAQ:IPXL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 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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