Impax Laboratories Inc. (IPXL) Stock Price Down 1.3%
Impax Laboratories Inc. (NASDAQ:IPXL) was down 1.3% on Friday . The company traded as low as $23.38 and last traded at $23.62, with a volume of 245,774 shares traded. The stock had previously closed at $23.94.
Several research firms have commented on IPXL. Deutsche Bank AG decreased their price objective on shares of Impax Laboratories from $31.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, August 10th. Goldman Sachs Group Inc. began coverage on shares of Impax Laboratories in a research note on Monday, June 6th. They issued a “sell” rating and a $33.00 price objective for the company. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $40.00 price objective (down previously from $41.00) on shares of Impax Laboratories in a research note on Wednesday, June 22nd. Leerink Swann reiterated a “market perform” rating and issued a $33.00 price objective (up previously from $31.00) on shares of Impax Laboratories in a research note on Wednesday, July 6th. Finally, BMO Capital Markets began coverage on shares of Impax Laboratories in a research report on Tuesday, June 28th. They set a “market perform” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $35.67.
The company’s 50-day moving average is $27.17 and its 200 day moving average is $31.20. The stock has a market capitalization of $1.71 billion and a PE ratio of 50.91.
Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.11. The business had revenue of $173 million for the quarter, compared to analyst estimates of $223.67 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s revenue was down 19.4% on a year-over-year basis. On average, analysts anticipate that Impax Laboratories Inc. will post $1.59 earnings per share for the current year.
In other Impax Laboratories news, Director Leslie Z. Benet sold 10,092 shares of Impax Laboratories 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 completion of the transaction, the director now directly owns 40,225 shares of the company’s stock, valued at $917,532.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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