Analysts Anticipate Impax Laboratories Inc (IPXL) Will Post Quarterly Sales of $198.42 Million

Brokerages forecast that Impax Laboratories Inc (NASDAQ:IPXL) will report sales of $198.42 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Impax Laboratories’ earnings. The lowest sales estimate is $192.52 million and the highest is $204.30 million. Impax Laboratories also reported sales of $198.42 million during the same quarter last year. The firm is expected to issue its next quarterly earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Impax Laboratories will report full year sales of $198.42 million for the current year, with estimates ranging from $773.61 million to $810.00 million. For the next financial year, analysts expect that the business will report sales of $843.92 million per share, with estimates ranging from $797.70 million to $881.48 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Impax Laboratories.

Impax Laboratories (NASDAQ:IPXL) last posted its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The company had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. Impax Laboratories’s revenue was down 9.4% on a year-over-year basis.

Several brokerages recently weighed in on IPXL. Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research report on Monday. Cantor Fitzgerald reiterated a “buy” rating and issued a $25.00 price objective on shares of Impax Laboratories in a research note on Monday, September 25th. Guggenheim initiated coverage on Impax Laboratories in a research note on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price target on the stock. BTIG Research restated a “buy” rating and issued a $27.00 price target (up from $20.00) on shares of Impax Laboratories in a research note on Saturday, September 23rd. Finally, Zacks Investment Research upgraded Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Monday, October 16th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Impax Laboratories currently has a consensus rating of “Hold” and a consensus price target of $19.47.

Several hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings in shares of Impax Laboratories by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock worth $111,000 after buying an additional 780 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Impax Laboratories during the third quarter worth about $201,000. Stevens Capital Management LP purchased a new position in shares of Impax Laboratories during the third quarter worth about $203,000. Quantbot Technologies LP grew its holdings in shares of Impax Laboratories by 279.0% during the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after buying an additional 7,384 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Impax Laboratories during the second quarter worth about $207,000. 90.48% of the stock is currently owned by institutional investors.

Impax Laboratories (NASDAQ IPXL) traded down $0.70 during trading hours on Friday, hitting $17.65. The company had a trading volume of 450,600 shares, compared to its average volume of 1,761,984. The stock has a market capitalization of $1,348.87, a PE ratio of -2.82, a P/E/G ratio of 1.15 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32. Impax Laboratories has a 12-month low of $7.75 and a 12-month high of $25.70.

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

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