Canaccord Genuity Analysts Give Impax Laboratories (IPXL) a $19.00 Price Target

Canaccord Genuity set a $19.00 price objective on Impax Laboratories (NASDAQ:IPXL) in a research note issued to investors on Thursday morning. The brokerage currently has a hold rating on the specialty pharmaceutical company’s stock.

IPXL has been the subject of several other reports. BidaskClub lowered shares of Impax Laboratories from a hold rating to a sell rating in a research note on Friday, February 2nd. UBS Group increased their target price on shares of Impax Laboratories from $12.00 to $16.00 and gave the company a sell rating in a research note on Monday, October 30th. Cantor Fitzgerald set a $35.00 target price on shares of Impax Laboratories and gave the company a buy rating in a research note on Friday, December 15th. Leerink Swann began coverage on shares of Impax Laboratories in a report on Tuesday, January 2nd. They set an outperform rating and a $22.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Impax Laboratories from a hold rating to a sell rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $19.62.

Shares of Impax Laboratories (IPXL) opened at $20.30 on Thursday. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70. The company has a market cap of $1,503.26, a P/E ratio of -3.25, a P/E/G ratio of 1.01 and a beta of 1.11. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59.

Institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new position in Impax Laboratories in the 3rd quarter valued at approximately $1,692,000. Alyeska Investment Group L.P. acquired a new position in Impax Laboratories in the 3rd quarter valued at approximately $9,470,000. Janus Henderson Group PLC acquired a new position in Impax Laboratories in the 3rd quarter valued at approximately $28,573,000. Nationwide Fund Advisors increased its stake in Impax Laboratories by 60.1% in the 3rd quarter. Nationwide Fund Advisors now owns 76,769 shares of the specialty pharmaceutical company’s stock valued at $1,558,000 after buying an additional 28,830 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in Impax Laboratories in the 3rd quarter valued at approximately $346,000. Hedge funds and other institutional investors own 99.05% of the company’s stock.

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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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