Cantor Fitzgerald set a $35.00 price target on Impax Laboratories (NASDAQ:IPXL) in a report issued on Friday. The brokerage currently has a buy rating on the specialty pharmaceutical company’s stock.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Impax Laboratories from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Monday, October 16th. BTIG Research reaffirmed a buy rating and issued a $27.00 price objective (up previously from $20.00) on shares of Impax Laboratories in a research note on Saturday, September 23rd. Deutsche Bank reaffirmed a buy rating and issued a $23.00 price objective on shares of Impax Laboratories in a research note on Tuesday, September 19th. Citigroup lifted their price objective on Impax Laboratories to $23.00 and gave the stock a buy rating in a research note on Tuesday, September 19th. Finally, Cowen reaffirmed a hold rating and issued a $16.00 price objective on shares of Impax Laboratories in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $19.47.

Impax Laboratories (NASDAQ IPXL) traded up $0.85 during midday trading on Friday, reaching $18.65. The company had a trading volume of 2,268,999 shares, compared to its average volume of 646,770. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70. The stock has a market cap of $1,319.22, a PE ratio of 26.18, a PEG ratio of 1.12 and a beta of 0.94.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The company had revenue of $206.40 million for the quarter, compared to analysts’ expectations of $208.38 million. During the same period in the previous year, the firm earned $0.37 EPS. The firm’s revenue was down 9.4% compared to the same quarter last year. sell-side analysts predict that Impax Laboratories will post 0.63 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. increased its position in shares of Impax Laboratories by 6,705.5% during the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock valued at $115,265,000 after purchasing an additional 7,054,136 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Impax Laboratories by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock valued at $109,820,000 after purchasing an additional 569,723 shares during the last quarter. Fosun International Ltd increased its position in shares of Impax Laboratories by 1,185.0% during the 3rd quarter. Fosun International Ltd now owns 3,854,995 shares of the specialty pharmaceutical company’s stock valued at $78,256,000 after purchasing an additional 3,554,995 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Impax Laboratories by 23.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock valued at $52,238,000 after purchasing an additional 607,503 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of Impax Laboratories by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,620,548 shares of the specialty pharmaceutical company’s stock valued at $32,897,000 after purchasing an additional 34,720 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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About Impax Laboratories

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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