Impax Laboratories, Inc. (NASDAQ:IPXL) shares saw unusually-high trading volume on Monday after Piper Jaffray Companies upgraded the stock from an underweight rating to a neutral rating. Piper Jaffray Companies now has a $16.00 price target on the stock, up from their previous price target of $9.00. Approximately 3,419,069 shares were traded during trading, an increase of 80% from the previous session’s volume of 1,895,850 shares.The stock last traded at $18.10 and had previously closed at $16.75.
Several other brokerages have also recently issued reports on IPXL. Vetr cut 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 Impax Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. Deutsche Bank AG set a $21.00 price objective on Impax Laboratories and gave the company a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets restated a “hold” rating and issued a $16.00 price target on shares of Impax Laboratories in a research note on Friday, June 23rd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price target on shares of Impax Laboratories in a research note on Sunday, April 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.56.
Several large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue increased 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 worth $102,000 after buying an additional 150 shares during the last quarter. Commerce Bank increased its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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 in the last quarter. Laurion Capital Management LP bought a new position in shares of Impax Laboratories during the first quarter valued at about $183,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Impax Laboratories by 11.8% in the first quarter. BNP Paribas Arbitrage SA now owns 15,029 shares of the specialty pharmaceutical company’s stock valued at $190,000 after buying an additional 1,588 shares in the last quarter. Institutional investors own 83.48% of the company’s stock.
The company’s market capitalization is $1.31 billion. The stock has a 50-day moving average of $17.34 and a 200 day moving average of $14.34.
Impax Laboratories (NASDAQ:IPXL) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The business had revenue of $202.08 million for the quarter, compared to analyst estimates of $195.62 million. During the same period last year, the business posted $0.21 EPS. Impax Laboratories’s revenue was up 17.1% compared to the same quarter last year. Analysts predict that Impax Laboratories, Inc. will post $0.68 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Impax Laboratories, Inc. (IPXL) Sees Strong Trading Volume on Analyst Upgrade” was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.com-unik.info/2017/08/12/impax-laboratories-inc-ipxl-sees-large-volume-increase-following-analyst-upgrade-updated-updated-updated.html.
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.
What are top analysts saying about Impax Laboratories Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Impax Laboratories Inc. and related companies.