Zacks: Brokerages Expect Impax Laboratories Inc (IPXL) Will Announce Quarterly Sales of $196.43 Million

Equities research analysts expect Impax Laboratories Inc (NASDAQ:IPXL) to report $196.43 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Impax Laboratories’ earnings. The lowest sales estimate is $188.50 million and the highest is $204.30 million. Impax Laboratories posted sales of $198.42 million during the same quarter last year, which would indicate a negative year over year growth rate of 1%. The business is expected to announce its next earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Impax Laboratories will report full year sales of $196.43 million for the current year, with estimates ranging from $773.61 million to $810.00 million. For the next fiscal year, analysts expect that the firm will post sales of $1.15 billion per share, with estimates ranging from $797.70 million to $1.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Impax Laboratories.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. 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 the consensus estimate of $208.38 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue was down 9.4% compared to the same quarter last year.

Several research firms have weighed in on IPXL. BidaskClub raised Impax Laboratories from a “sell” rating to a “hold” rating in a report on Friday. Guggenheim began coverage on Impax Laboratories in a report on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price target on the stock. Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the company a “hold” rating in a report on Monday, December 18th. Cantor Fitzgerald set a $25.00 price target on Impax Laboratories and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Leerink Swann began coverage on Impax Laboratories in a report on Tuesday, January 2nd. They issued an “outperform” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Impax Laboratories has an average rating of “Hold” and a consensus target price of $19.62.

Impax Laboratories (IPXL) traded down $0.10 during trading hours on Wednesday, hitting $20.80. The company’s stock had a trading volume of 754,380 shares, compared to its average volume of 893,413. Impax Laboratories has a 1 year low of $7.75 and a 1 year high of $25.70. The stock has a market cap of $1,548.98, a PE ratio of -3.33, a P/E/G ratio of 1.07 and a beta of 0.94. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Maverick Capital Ltd. raised its holdings in shares of Impax Laboratories by 6,705.5% during the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock valued at $115,265,000 after buying an additional 7,054,136 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Impax Laboratories by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock valued at $109,820,000 after buying an additional 569,723 shares in the last quarter. Fosun International Ltd raised its holdings in shares of Impax Laboratories by 1,185.0% during the 3rd quarter. Fosun International Ltd now owns 3,854,995 shares of the specialty pharmaceutical company’s stock valued at $78,256,000 after buying an additional 3,554,995 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Impax Laboratories by 23.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock valued at $52,238,000 after buying an additional 607,503 shares in the last quarter. Finally, GW&K Investment Management LLC raised its holdings in shares of Impax Laboratories by 147.5% during the 4th quarter. GW&K Investment Management LLC now owns 1,859,924 shares of the specialty pharmaceutical company’s stock valued at $30,968,000 after buying an additional 1,108,348 shares in the last quarter. 90.48% of the stock is currently owned by institutional investors.

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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.

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