Cantor Fitzgerald Raises Impax Laboratories, Inc. (IPXL) Price Target to $35.00

Impax Laboratories, Inc. (NASDAQ:IPXL) had its price objective increased by Cantor Fitzgerald from $25.00 to $35.00 in a research note released on Friday morning. They currently have an overweight rating on the specialty pharmaceutical company’s stock.

A number of other analysts have also issued reports on the stock. UBS AG lifted their price target on shares of Impax Laboratories from $12.00 to $16.00 and gave the stock a sell rating in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Impax Laboratories from a hold rating to a sell rating in a research note on Friday, October 20th. Royal Bank Of Canada set a $17.00 price target on shares of Impax Laboratories and gave the stock a hold rating in a research note on Tuesday, October 17th. Canaccord Genuity set a $19.00 price target on shares of Impax Laboratories and gave the stock a hold rating in a research note on Tuesday, October 17th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Impax Laboratories in a research note on Thursday, September 28th. They issued a neutral rating and a $20.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $19.50.

Shares of Impax Laboratories (NASDAQ IPXL) traded down $1.05 during trading hours on Friday, hitting $17.25. 1,552,600 shares of the company were exchanged, compared to its average volume of 1,870,373. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $1,356.28, a price-to-earnings ratio of 26.91, a PEG ratio of 1.13 and a beta of 0.99. Impax Laboratories has a fifty-two week low of $7.75 and a fifty-two week high of $25.70.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business 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 revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. analysts forecast that Impax Laboratories will post 0.64 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Impax Laboratories by 0.3% during the second quarter. Arizona State Retirement System now owns 38,476 shares of the specialty pharmaceutical company’s stock valued at $619,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund boosted its holdings in shares of Impax Laboratories by 0.8% during the second quarter. Texas Permanent School Fund now owns 53,810 shares of the specialty pharmaceutical company’s stock valued at $866,000 after acquiring an additional 415 shares during the period. Bank of Montreal Can boosted its holdings in shares of Impax Laboratories by 0.9% during the second quarter. Bank of Montreal Can now owns 54,383 shares of the specialty pharmaceutical company’s stock valued at $875,000 after acquiring an additional 509 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Impax Laboratories by 3.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 17,410 shares of the specialty pharmaceutical company’s stock valued at $280,000 after acquiring an additional 530 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Impax Laboratories by 0.5% during the first quarter. Legal & General Group Plc now owns 131,834 shares of the specialty pharmaceutical company’s stock valued at $1,668,000 after acquiring an additional 610 shares during the period. 88.32% of the stock is owned by institutional investors.

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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