Impax Laboratories, Inc. (NASDAQ:IPXL) Stock Rating Upgraded by BidaskClub

Impax Laboratories, Inc. (NASDAQ:IPXL) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, July 12th.

Several other equities research analysts also recently weighed in on IPXL. Guggenheim reaffirmed a “buy” rating and issued a $20.00 price target on shares of Impax Laboratories in a research note on Monday, March 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 price target (up from $10.00) on shares of Impax Laboratories in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, July 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $16.00 price target on shares of Impax Laboratories in a research note on Friday, June 23rd. Finally, Deutsche Bank AG set a $15.00 target price on shares of Impax Laboratories and gave the stock a “buy” rating in a research report on Wednesday, April 5th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.56.

Shares of Impax Laboratories (NASDAQ:IPXL) opened at 18.30 on Wednesday. The company’s market cap is $1.31 billion. Impax Laboratories has a one year low of $7.75 and a one year high of $27.29. The company has a 50 day moving average price of $17.34 and a 200 day moving average price of $14.34.

Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $202.08 million for the quarter, compared to analyst estimates of $195.62 million. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. Impax Laboratories’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Equities research analysts expect that Impax Laboratories will post $0.68 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its stake in shares of Impax Laboratories by 5.0% in the fourth quarter. Comerica Bank now owns 78,608 shares of the specialty pharmaceutical company’s stock worth $1,010,000 after buying an additional 3,740 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Impax Laboratories by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,791,702 shares of the specialty pharmaceutical company’s stock worth $23,739,000 after buying an additional 194,694 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Impax Laboratories by 515.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,093,002 shares of the specialty pharmaceutical company’s stock worth $14,482,000 after buying an additional 915,302 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Impax Laboratories by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 103,960 shares of the specialty pharmaceutical company’s stock worth $1,377,000 after buying an additional 800 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Impax Laboratories by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 145,928 shares of the specialty pharmaceutical company’s stock worth $1,934,000 after buying an additional 4,144 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.

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.

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