Impax Laboratories (IPXL) Raised to “Sell” at BidaskClub

Impax Laboratories (NASDAQ:IPXL) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also weighed in on IPXL. Piper Jaffray Companies reaffirmed a “hold” rating and set a $17.00 target price on shares of Impax Laboratories in a research note on Sunday, September 17th. Citigroup increased their target price on shares of Impax Laboratories to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Deutsche Bank reaffirmed a “buy” rating and set a $23.00 target price on shares of Impax Laboratories in a research note on Tuesday, September 19th. BTIG Research reaffirmed a “buy” rating and set a $27.00 target price (up previously from $20.00) on shares of Impax Laboratories in a research note on Saturday, September 23rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $25.00 target price on shares of Impax Laboratories in a research note on Monday, September 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.62.

Impax Laboratories (NASDAQ:IPXL) opened at $19.10 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 firm has a market cap of $1,400.00, a PE ratio of -3.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $25.70.

Impax Laboratories (NASDAQ:IPXL) last announced its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $206.40 million during the quarter, compared to analyst estimates of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. Impax Laboratories’s revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. equities analysts forecast that Impax Laboratories will post 0.64 EPS for the current year.

A number of large investors have recently modified their holdings of IPXL. Legal & General Group Plc raised its holdings in Impax Laboratories by 8.1% in the second quarter. Legal & General Group Plc now owns 142,452 shares of the specialty pharmaceutical company’s stock valued at $2,292,000 after acquiring an additional 10,618 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Impax Laboratories by 56.4% in the second quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock valued at $378,000 after acquiring an additional 8,469 shares in the last quarter. Swiss National Bank raised its holdings in Impax Laboratories by 15.3% in the second quarter. Swiss National Bank now owns 116,900 shares of the specialty pharmaceutical company’s stock valued at $1,882,000 after acquiring an additional 15,500 shares in the last quarter. Teachers Advisors LLC raised its holdings in Impax Laboratories by 7.5% during the second quarter. Teachers Advisors LLC now owns 131,944 shares of the specialty pharmaceutical company’s stock worth $2,124,000 after purchasing an additional 9,159 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Impax Laboratories by 1.0% during the second quarter. TIAA CREF Investment Management LLC now owns 238,473 shares of the specialty pharmaceutical company’s stock worth $3,839,000 after purchasing an additional 2,463 shares in the last quarter. 90.48% 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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