Impax Laboratories, Inc. (NASDAQ:IPXL) has been given an average recommendation of “Hold” by the twenty brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.10.

A number of brokerages recently commented on IPXL. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the company a “hold” rating in a research report on Wednesday, August 9th. Cantor Fitzgerald set a $20.00 price target on shares of Impax Laboratories and gave the company a “buy” rating in a research report on Wednesday, August 9th. Citigroup Inc. lifted their price target on shares of Impax Laboratories to $23.00 and gave the company a “buy” rating in a research report on Tuesday, September 19th. Deutsche Bank AG set a $21.00 price target on shares of Impax Laboratories and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Impax Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th.

A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in Impax Laboratories by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 38,476 shares of the specialty pharmaceutical company’s stock worth $619,000 after purchasing an additional 100 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Impax Laboratories by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock worth $182,000 after purchasing an additional 171 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Impax Laboratories by 1.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock worth $214,000 after purchasing an additional 280 shares during the period. Texas Permanent School Fund boosted its position in Impax Laboratories by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 53,810 shares of the specialty pharmaceutical company’s stock worth $866,000 after purchasing an additional 415 shares during the period. Finally, Bank of Montreal Can boosted its position in Impax Laboratories by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 54,383 shares of the specialty pharmaceutical company’s stock worth $875,000 after purchasing an additional 509 shares during the period. 86.26% of the stock is owned by hedge funds and other institutional investors.

Impax Laboratories (IPXL) traded up 0.24% during mid-day trading on Wednesday, reaching $20.80. The company’s stock had a trading volume of 791,887 shares. The firm’s market cap is $1.49 billion. The stock’s 50 day moving average is $21.23 and its 200 day moving average is $17.13. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70.

Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. The firm had revenue of $202.08 million during the quarter, compared to the consensus estimate of $195.62 million. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, analysts anticipate that Impax Laboratories will post $0.70 EPS for the current year.

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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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