Impax Laboratories Inc. (IPXL) Shares Down 1.3%
Shares of Impax Laboratories Inc. (NASDAQ:IPXL) were down 1.3% on Friday . The stock traded as low as $23.38 and last traded at $23.62, with a volume of 245,774 shares changing hands. The stock had previously closed at $23.94.
Several analysts have weighed in on IPXL shares. Deutsche Bank AG cut 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. Goldman Sachs Group Inc. started coverage on Impax Laboratories in a research note on Monday, June 6th. They set a “sell” rating and a $33.00 target price on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $41.00 target price on shares of Impax Laboratories in a research note on Friday, May 27th. Leerink Swann cut their target price on Impax Laboratories from $33.00 to $24.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 10th. Finally, WallachBeth Capital cut their target price on Impax Laboratories from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.67.
The firm has a market cap of $1.71 billion and a price-to-earnings ratio of 50.91. The firm’s 50-day moving average price is $27.07 and its 200 day moving average price is $31.20.
Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data 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 earned $173 million during the quarter, compared to analysts’ expectations of $223.67 million. During the same quarter last year, the company posted $0.34 earnings per share. The business’s quarterly revenue was down 19.4% on a year-over-year basis. Analysts expect that Impax Laboratories Inc. will post $1.59 EPS for the current fiscal year.
In other Impax Laboratories news, Director Leslie Z. Benet sold 10,092 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $22.81, for a total transaction of $230,198.52. Following the transaction, the director now owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The transaction was disclosed in a document filed with the SEC, 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.