Equities analysts expect Impax Laboratories (NASDAQ:IPXL) to post $180.12 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Impax Laboratories’ earnings, with the lowest sales estimate coming in at $167.20 million and the highest estimate coming in at $198.88 million. Impax Laboratories posted sales of $184.40 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The company is expected to announce its next quarterly earnings results on Wednesday, May 9th.
According to Zacks, analysts expect that Impax Laboratories will report full-year sales of $1.63 billion for the current year, with estimates ranging from $1.53 billion to $1.73 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.20 billion per share, with estimates ranging from $2.09 billion to $2.32 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Impax Laboratories.
Impax Laboratories (NASDAQ:IPXL) last announced its earnings results on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). Impax Laboratories had a negative net margin of 60.49% and a positive return on equity of 10.42%. The business had revenue of $182.90 million for the quarter, compared to the consensus estimate of $199.13 million. During the same quarter in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis.
Several brokerages recently commented on IPXL. BidaskClub lowered Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Cowen set a $21.00 target price on Impax Laboratories and gave the company a “hold” rating in a research report on Thursday, March 1st. Canaccord Genuity set a $19.00 target price on Impax Laboratories and gave the company a “hold” rating in a research report on Thursday, February 22nd. ValuEngine lowered Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Leerink Swann began coverage on Impax Laboratories in a research report on Tuesday, January 2nd. They set an “outperform” rating and a $22.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Impax Laboratories has an average rating of “Hold” and an average target price of $21.15.
Shares of Impax Laboratories stock traded down $0.30 on Thursday, hitting $19.90. 754,920 shares of the company’s stock traded hands, compared to its average volume of 633,882. Impax Laboratories has a one year low of $12.70 and a one year high of $25.70. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.96 and a quick ratio of 1.52. The firm has a market cap of $1,470.05, a price-to-earnings ratio of 31.59, a PEG ratio of 0.91 and a beta of 1.17.
A number of large investors have recently made changes to their positions in IPXL. Xact Kapitalforvaltning AB bought a new position in Impax Laboratories in the fourth quarter worth approximately $198,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Impax Laboratories in the fourth quarter worth approximately $336,000. Envestnet Asset Management Inc. raised its stake in shares of Impax Laboratories by 470.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,581 shares of the specialty pharmaceutical company’s stock worth $343,000 after purchasing an additional 16,976 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Impax Laboratories in the fourth quarter worth approximately $393,000. Finally, Commerce Bank raised its stake in shares of Impax Laboratories by 112.7% in the fourth quarter. Commerce Bank now owns 24,375 shares of the specialty pharmaceutical company’s stock worth $406,000 after purchasing an additional 12,915 shares during the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.
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About Impax Laboratories
Impax Laboratories, Inc, a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Impax Generics and Impax Specialty Pharma. The Impax Generics segment provides generic pharmaceutical products directly to wholesalers, retail drug chains, and others; generic prescription products through third-party pharmaceutical entities pursuant to alliance agreements; generic pharmaceutical over-the-counter (OTC) and prescription products to third parties; and generic pharmaceutical OTC products through third-party pharmaceutical companies pursuant to alliance agreements.
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