BidaskClub cut shares of Impax Laboratories, Inc. (NASDAQ:IPXL) from a buy rating to a hold rating in a report released on Friday morning.

A number of other brokerages have also recently commented on IPXL. Canaccord Genuity assumed coverage on Impax Laboratories in a research report on Monday, July 31st. They set a hold rating and a $19.00 price target on the stock. Zacks Investment Research cut Impax Laboratories from a hold rating to a strong sell rating in a research report on Monday, July 24th. Deutsche Bank AG set a $21.00 price target on Impax Laboratories and gave the company a buy rating in a research report on Monday, July 17th. Piper Jaffray Companies raised Impax Laboratories from an underweight rating to a neutral rating and upped their price target for the company from $9.00 to $16.00 in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed an outperform rating and set a $62.00 price target (up previously from $10.00) on shares of Impax Laboratories in a research report on Thursday, May 11th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Impax Laboratories presently has an average rating of Hold and an average target price of $18.62.

Impax Laboratories (NASDAQ:IPXL) traded down 5.03% on Friday, reaching $15.10. The company’s stock had a trading volume of 3,993,330 shares. The firm has a 50 day moving average of $16.94 and a 200 day moving average of $14.12. The firm’s market cap is $1.08 billion. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $31.29.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.01. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The firm had revenue of $184.40 million for the quarter, compared to analysts’ expectations of $193.17 million. During the same period in the prior year, the company earned $0.43 EPS. The firm’s quarterly revenue was down 18.2% on a year-over-year basis. Analysts anticipate that Impax Laboratories will post $0.66 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Impax Laboratories by 0.3% in the second quarter. Arizona State Retirement System now owns 38,476 shares of the specialty pharmaceutical company’s stock worth $619,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock worth $102,000 after buying an additional 150 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Impax Laboratories by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock worth $182,000 after buying an additional 171 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Impax Laboratories by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock worth $214,000 after buying an additional 280 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock worth $380,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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