Impax Laboratories, Inc. (NASDAQ:IPXL) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Impax Laboratories, Inc. (NASDAQ:IPXL) announced its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03, Bloomberg Earnings reports. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The business 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 business earned $0.37 earnings per share. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. Impax Laboratories updated its FY17 guidance to $0.60-0.65 EPS.

Shares of Impax Laboratories (IPXL) traded up $0.10 during mid-day trading on Friday, reaching $17.05. The company had a trading volume of 212,504 shares, compared to its average volume of 1,178,001. The stock has a market cap of $1,256.23, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.99. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32. Impax Laboratories has a one year low of $7.75 and a one year high of $25.70.

A number of equities analysts have recently weighed in on IPXL shares. Cantor Fitzgerald upped their price objective on Impax Laboratories from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, September 11th. Citigroup Inc. boosted their target price on Impax Laboratories to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. UBS AG boosted their target price on Impax Laboratories from $12.00 to $16.00 and gave the stock a “sell” rating in a research report on Monday, October 30th. BTIG Research restated a “buy” rating and set a $27.00 price objective (up from $20.00) on shares of Impax Laboratories in a research report on Saturday, September 23rd. Finally, Deutsche Bank AG restated a “buy” rating and set a $23.00 price objective on shares of Impax Laboratories in a research report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.60.

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Impax Laboratories Company Profile

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.

Earnings History for Impax Laboratories (NASDAQ:IPXL)

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