Impax Laboratories (IPXL) Expected to Post Earnings of $0.16 Per Share

Wall Street brokerages expect Impax Laboratories (NASDAQ:IPXL) to report $0.16 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Impax Laboratories’ earnings, with estimates ranging from $0.11 to $0.22. Impax Laboratories reported earnings per share of $0.11 during the same quarter last year, which would indicate a positive year over year growth rate of 45.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Impax Laboratories will report full year earnings of $1.19 per share for the current financial year, with EPS estimates ranging from $1.02 to $1.32. For the next year, analysts anticipate that the business will report earnings of $1.60 per share, with EPS estimates ranging from $1.50 to $1.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Impax Laboratories.

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Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Impax Laboratories had a negative net margin of 60.49% and a positive return on equity of 10.42%. The firm had revenue of $182.90 million for the quarter, compared to analysts’ expectations of $199.13 million. During the same period in the prior year, the company posted $0.16 earnings per share. Impax Laboratories’s quarterly revenue was down 7.8% compared to the same quarter last year.

IPXL has been the subject of a number of analyst reports. Leerink Swann initiated coverage on shares of Impax Laboratories in a research note on Tuesday, January 2nd. They set an “outperform” rating and a $22.00 price objective for the company. BidaskClub lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Zacks Investment Research raised shares of Impax Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, January 15th. Finally, ValuEngine lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Impax Laboratories has a consensus rating of “Hold” and a consensus target price of $21.15.

IPXL stock traded down $0.30 during mid-day trading on Tuesday, reaching $19.90. 754,920 shares of the stock traded hands, compared to its average volume of 633,882. The company has a current ratio of 1.96, a quick ratio of 1.52 and a debt-to-equity ratio of 4.11. Impax Laboratories has a 52-week low of $12.70 and a 52-week high of $25.70. The firm has a market capitalization of $1,470.05, a PE ratio of 31.59, a P/E/G ratio of 0.91 and a beta of 1.17.

Several institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. increased its holdings in shares of Impax Laboratories by 5.9% in the 3rd quarter. American International Group Inc. now owns 58,242 shares of the specialty pharmaceutical company’s stock valued at $1,182,000 after purchasing an additional 3,233 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Impax Laboratories by 15.6% in the 4th quarter. OppenheimerFunds Inc. now owns 29,480 shares of the specialty pharmaceutical company’s stock valued at $491,000 after purchasing an additional 3,977 shares during the period. Legal & General Group Plc increased its holdings in shares of Impax Laboratories by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 148,419 shares of the specialty pharmaceutical company’s stock valued at $3,019,000 after purchasing an additional 5,967 shares during the period. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Impax Laboratories by 37.3% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 29,100 shares of the specialty pharmaceutical company’s stock valued at $590,000 after purchasing an additional 7,900 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Impax Laboratories by 12.2% in the 4th quarter. Alps Advisors Inc. now owns 82,126 shares of the specialty pharmaceutical company’s stock valued at $1,367,000 after purchasing an additional 8,940 shares during the period. Institutional investors own 90.40% of the company’s stock.

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Impax Laboratories Company Profile

Impax Laboratories, Inc, a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Impax Generics and Impax Specialty Pharma. The Impax Generics segment provides generic pharmaceutical products directly to wholesalers, retail drug chains, and others; generic prescription products through third-party pharmaceutical entities pursuant to alliance agreements; generic pharmaceutical over-the-counter (OTC) and prescription products to third parties; and generic pharmaceutical OTC products through third-party pharmaceutical companies pursuant to alliance agreements.

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Earnings History and Estimates for Impax Laboratories (NASDAQ:IPXL)

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