Impax Laboratories, Inc. (NASDAQ:IPXL) Upgraded at BidaskClub

BidaskClub upgraded shares of Impax Laboratories, Inc. (NASDAQ:IPXL) from a hold rating to a buy rating in a research report report published on Wednesday.

IPXL has been the topic of a number of other research reports. Vetr lowered shares of Impax Laboratories from a strong-buy rating to a strong sell rating and set a $10.55 price objective on the stock. in a research note on Monday, April 24th. Zacks Investment Research upgraded shares of Impax Laboratories from a strong sell rating to a hold rating in a research note on Monday, May 8th. BMO Capital Markets reiterated a hold rating and set a $16.00 price objective on shares of Impax Laboratories in a research note on Friday, June 23rd. Royal Bank Of Canada reiterated a sector perform rating and set a $10.00 price objective on shares of Impax Laboratories in a research note on Sunday, April 2nd. Finally, Guggenheim reiterated a buy rating and set a $20.00 price objective on shares of Impax Laboratories in a research note on Monday, March 27th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $18.03.

Shares of Impax Laboratories (NASDAQ IPXL) traded up 8.06% during midday trading on Wednesday, reaching $18.10. 3,419,069 shares of the company traded hands. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $31.85. The company’s 50 day moving average is $15.78 and its 200-day moving average is $13.40. The stock’s market capitalization is $1.30 billion.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $184.40 million for the quarter, compared to analysts’ expectations of $193.17 million. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The company’s revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. Equities research analysts forecast that Impax Laboratories will post $0.65 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock valued at $102,000 after buying an additional 150 shares during the last quarter. Commerce Bank raised its stake in Impax Laboratories by 12.9% in the first quarter. Commerce Bank now owns 11,460 shares of the specialty pharmaceutical company’s stock valued at $145,000 after buying an additional 1,310 shares during the last quarter. Appleton Partners Inc. MA acquired a new stake in Impax Laboratories during the second quarter valued at $191,000. Massachusetts Financial Services Co. MA raised its stake in Impax Laboratories by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock valued at $182,000 after buying an additional 171 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in Impax Laboratories during the first quarter valued at $183,000. Hedge funds and other institutional investors own 83.87% 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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