Impax Laboratories, Inc. (IPXL) PT Raised to $16.00 at UBS AG

Impax Laboratories, Inc. (NASDAQ:IPXL) had its price objective increased by research analysts at UBS AG from $12.00 to $16.00 in a report released on Monday, October 30th, www.benzinga.com reports. The firm currently has a “sell” rating on the specialty pharmaceutical company’s stock. UBS AG’s price objective would indicate a potential downside of 6.81% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Impax Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Cowen and Company set a $20.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Impax Laboratories from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies set a $17.00 price target on shares of Impax Laboratories and gave the company a “hold” rating in a report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Impax Laboratories currently has a consensus rating of “Hold” and an average price target of $19.60.

Impax Laboratories (NASDAQ:IPXL) opened at $17.17 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 1.59. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $25.70. The company has a market cap of $1,270.00, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99.

Impax Laboratories (NASDAQ:IPXL) last released 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. The business had revenue of $206.40 million during the quarter, compared to analysts’ expectations of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. sell-side analysts expect that Impax Laboratories will post 0.64 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew 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 valued at $619,000 after purchasing an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of 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 valued at $214,000 after acquiring an additional 280 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of 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 valued at $866,000 after acquiring an additional 415 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of 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 valued at $875,000 after acquiring an additional 509 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Impax Laboratories by 0.5% during the 1st quarter. Legal & General Group Plc now owns 131,834 shares of the specialty pharmaceutical company’s stock valued at $1,668,000 after acquiring an additional 610 shares during the last quarter. 88.32% of the stock is currently 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), 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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