Impax Laboratories, Inc. (NASDAQ:IPXL) Given a $19.00 Price Target at Canaccord Genuity

Impax Laboratories, Inc. (NASDAQ:IPXL) received a $19.00 target price from Canaccord Genuity in a research report issued to clients and investors on Tuesday, October 17th. The firm presently has a “hold” rating on the specialty pharmaceutical company’s stock. Canaccord Genuity’s price target points to a potential upside of 2.43% from the stock’s current price.

IPXL has been the subject of several other research reports. Cantor Fitzgerald raised their price target on Impax Laboratories from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, September 11th. Zacks Investment Research upgraded Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Monday, October 16th. Deutsche Bank AG set a $21.00 target price on Impax Laboratories and gave the company a “buy” rating in a report on Monday, July 17th. Piper Jaffray Companies reiterated a “hold” rating and issued a $17.00 target price on shares of Impax Laboratories in a report on Sunday, September 17th. Finally, Royal Bank Of Canada set a $17.00 target price on Impax Laboratories and gave the company a “hold” rating in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.92.

Shares of Impax Laboratories (IPXL) traded up 2.43% during trading on Tuesday, reaching $19.00. 401,597 shares of the company were exchanged. The firm’s market capitalization is $1.36 billion. The firm’s 50 day moving average is $21.30 and its 200 day moving average is $17.60. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $25.70.

Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The firm had revenue of $202.08 million during the quarter, compared to the consensus estimate of $195.62 million. During the same period last year, the business posted $0.21 EPS. Impax Laboratories’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities analysts anticipate that Impax Laboratories will post $0.70 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of IPXL. Maverick Capital Ltd. boosted its stake in Impax Laboratories by 6,705.5% in the second quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock valued at $115,265,000 after acquiring an additional 7,054,136 shares during the period. Fisher Asset Management LLC acquired a new position in Impax Laboratories in the third quarter valued at approximately $30,329,000. Dimensional Fund Advisors LP boosted its stake in Impax Laboratories by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock valued at $33,359,000 after acquiring an additional 845,375 shares during the period. Balyasny Asset Management LLC boosted its stake in Impax Laboratories by 357.7% in the second quarter. Balyasny Asset Management LLC now owns 1,051,484 shares of the specialty pharmaceutical company’s stock valued at $16,929,000 after acquiring an additional 821,734 shares during the period. Finally, Stifel Financial Corp acquired a new position in Impax Laboratories in the second quarter valued at approximately $10,285,000. Institutional investors own 88.68% 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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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