FY2018 Earnings Estimate for Impax Laboratories Inc. Issued By Leerink Swann (IPXL)
Impax Laboratories Inc. (NASDAQ:IPXL) – Investment analysts at Leerink Swann lowered their FY2018 earnings per share (EPS) estimates for Impax Laboratories in a note issued to investors on Tuesday. Leerink Swann analyst J. Gerberry now expects that the brokerage will post earnings of $2.25 per share for the year, down from their previous estimate of $2.41. Leerink Swann has a “Market Perform” rating and a $24.00 price objective on the stock.
A number of other brokerages have also weighed in on IPXL. Bank of America Corp. raised shares of Impax Laboratories from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Tuesday, July 12th. BMO Capital Markets began coverage on shares of Impax Laboratories in a research note on Tuesday, June 28th. They issued a “market perform” rating and a $30.00 price target for the company. Deutsche Bank AG reduced their price target on shares of Impax Laboratories from $42.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, June 22nd. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $40.00 price target (down from $41.00) on shares of Impax Laboratories in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.43.
Impax Laboratories (NASDAQ:IPXL) traded down 1.13% during mid-day trading on Wednesday, reaching $21.85. 338,927 shares of the company’s stock traded hands. The company has a 50-day moving average of $24.38 and a 200-day moving average of $29.14. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 46.29 and a beta of 1.21. Impax Laboratories has a 52-week low of $20.97 and a 52-week high of $45.00.
Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The firm earned $173 million during the quarter, compared to analysts’ expectations of $223.67 million. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The firm’s revenue was down 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share.
In other Impax Laboratories news, Director Leslie Z. Benet sold 10,092 shares of the business’s 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 completion of the sale, the director now directly owns 40,225 shares of the company’s stock, valued at $917,532.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Walleye Trading LLC increased its stake in Impax Laboratories by 66.1% in the second quarter. Walleye Trading LLC now owns 3,883 shares of the specialty pharmaceutical company’s stock valued at $112,000 after buying an additional 1,545 shares in the last quarter. Rational Advisors LLC acquired a new stake in Impax Laboratories during the second quarter valued at approximately $112,000. Acrospire Investment Management LLC increased its stake in Impax Laboratories by 198.5% in the second quarter. Acrospire Investment Management LLC now owns 3,910 shares of the specialty pharmaceutical company’s stock valued at $113,000 after buying an additional 2,600 shares in the last quarter. BlackRock Inc. increased its stake in Impax Laboratories by 128.2% in the first quarter. BlackRock Inc. now owns 4,834 shares of the specialty pharmaceutical company’s stock valued at $154,000 after buying an additional 2,716 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Impax Laboratories by 625.0% in the third quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the specialty pharmaceutical company’s stock valued at $137,000 after buying an additional 5,000 shares in the last quarter. 88.13% of the stock is owned by institutional investors.
Impax Laboratories Company Profile
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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