Canaccord Genuity Reiterates $19.00 Price Target for Impax Laboratories (IPXL)

Impax Laboratories (NASDAQ:IPXL) has been assigned a $19.00 price objective by equities researchers at Canaccord Genuity in a report issued on Monday, December 18th. The brokerage presently has a “hold” rating on the specialty pharmaceutical company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 2.70% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target (up previously from $20.00) on shares of Impax Laboratories in a report on Wednesday, September 6th. Guggenheim began coverage on shares of Impax Laboratories in a report on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price target for the company. BTIG Research reissued a “buy” rating and issued a $27.00 price target (up previously from $20.00) on shares of Impax Laboratories in a report on Saturday, September 23rd. Goldman Sachs Group began coverage on shares of Impax Laboratories in a research note on Thursday, September 28th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $23.00 target price on shares of Impax Laboratories in a research note on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $19.62.

Impax Laboratories (NASDAQ:IPXL) traded up $1.15 during mid-day trading on Monday, reaching $18.50. 1,451,061 shares of the company traded hands, compared to its average volume of 819,358. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 1.59. Impax Laboratories has a 1 year low of $7.75 and a 1 year high of $25.70. The company has a market cap of $1,290.00, a PE ratio of -2.96, a PEG ratio of 0.94 and a beta of 0.94.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The firm had revenue of $206.40 million during the quarter, compared to analysts’ expectations of $208.38 million. During the same quarter in the previous year, the company posted $0.37 EPS. Impax Laboratories’s revenue was down 9.4% on a year-over-year basis. equities research analysts anticipate that Impax Laboratories will post 0.64 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of Impax Laboratories by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 38,476 shares of the specialty pharmaceutical company’s stock valued at $619,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund raised its holdings in shares of Impax Laboratories by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 53,810 shares of the specialty pharmaceutical company’s stock valued at $866,000 after purchasing an additional 415 shares during the period. Bank of Montreal Can raised its holdings in shares of Impax Laboratories by 0.9% in the 2nd quarter. Bank of Montreal Can now owns 54,383 shares of the specialty pharmaceutical company’s stock valued at $875,000 after purchasing an additional 509 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in shares of Impax Laboratories by 3.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,410 shares of the specialty pharmaceutical company’s stock valued at $280,000 after purchasing an additional 530 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Impax Laboratories by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after purchasing an additional 780 shares during the period. 90.48% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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