Impax Laboratories’ (IPXL) Hold Rating Reaffirmed at Cowen and Company
Cowen and Company reissued their hold rating on shares of Impax Laboratories, Inc. (NASDAQ:IPXL) in a report released on Friday morning. Cowen and Company currently has a $16.00 price objective on the specialty pharmaceutical company’s stock.
A number of other analysts have also issued reports on the company. Cantor Fitzgerald raised their price target on Impax Laboratories from $25.00 to $35.00 and gave the stock an overweight rating in a research note on Friday. UBS AG raised their price target on Impax Laboratories from $12.00 to $16.00 and gave the stock a sell rating in a research note on Monday, October 30th. Zacks Investment Research lowered Impax Laboratories from a hold rating to a sell rating in a research note on Friday, October 20th. Royal Bank Of Canada set a $17.00 price target on Impax Laboratories and gave the stock a hold rating in a research note on Tuesday, October 17th. Finally, Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the stock a hold rating in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $19.50.
Shares of Impax Laboratories (NASDAQ:IPXL) opened at $17.25 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. The company has a market capitalization of $1,356.28, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.13 and a beta of 0.99. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $25.70.
Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $206.40 million for the quarter, compared to analyst estimates of $208.38 million. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. research analysts expect that Impax Laboratories will post 0.64 EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in shares of Impax Laboratories during the 3rd quarter valued at about $1,692,000. Stifel Financial Corp raised its holdings in shares of Impax Laboratories by 8.3% during the 3rd quarter. Stifel Financial Corp now owns 689,931 shares of the specialty pharmaceutical company’s stock valued at $14,007,000 after buying an additional 53,068 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Impax Laboratories during the 3rd quarter valued at about $1,181,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Impax Laboratories by 5.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 579,549 shares of the specialty pharmaceutical company’s stock valued at $11,765,000 after buying an additional 31,807 shares during the period. Finally, WINTON GROUP Ltd raised its holdings in shares of Impax Laboratories by 151.5% during the 3rd quarter. WINTON GROUP Ltd now owns 166,510 shares of the specialty pharmaceutical company’s stock valued at $3,380,000 after buying an additional 100,304 shares during the period. Institutional investors and hedge funds own 88.32% 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.
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