Impax Laboratories (IPXL) Given New $35.00 Price Target at Cantor Fitzgerald

Impax Laboratories (NASDAQ:IPXL) had its price objective increased by equities research analysts at Cantor Fitzgerald from $25.00 to $35.00 in a report issued on Friday, November 10th. The firm currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 120.82% from the stock’s current price.

A number of other brokerages also recently weighed in on IPXL. BTIG Research reiterated a “buy” rating and issued a $27.00 target price (up previously from $20.00) on shares of Impax Laboratories in a report on Saturday, September 23rd. Goldman Sachs Group began coverage on Impax Laboratories in a report on Thursday, September 28th. They issued a “neutral” rating and a $20.00 target price on the stock. Citigroup increased their price objective on Impax Laboratories to $23.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Deutsche Bank restated a “buy” rating and issued a $23.00 price objective on shares of Impax Laboratories in a report on Tuesday, September 19th. Finally, Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.60.

Shares of Impax Laboratories (NASDAQ:IPXL) traded down $0.15 during midday trading on Friday, reaching $15.85. 599,800 shares of the company’s stock were exchanged, compared to its average volume of 1,816,329. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $25.70. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 1.59. The firm has a market cap of $1,190.00, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $206.40 million during the quarter, compared to analyst estimates of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. sell-side analysts anticipate that Impax Laboratories will post 0.63 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in Impax Laboratories by 12.7% in 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 purchasing an additional 780 shares during the period. Amalgamated Bank acquired a new stake in Impax Laboratories in the third quarter worth about $201,000. Quantbot Technologies LP increased its position in Impax Laboratories by 279.0% in the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after purchasing an additional 7,384 shares during the period. Stevens Capital Management LP acquired a new stake in Impax Laboratories in the third quarter worth about $203,000. Finally, Advisory Services Network LLC acquired a new stake in Impax Laboratories in the second quarter worth about $207,000. Institutional investors own 90.79% 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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