Impax Laboratories, Inc. (NASDAQ:IPXL) had its price target increased by equities researchers at UBS AG from $12.00 to $16.00 in a research note issued to investors on Monday. The brokerage currently has a “sell” rating on the specialty pharmaceutical company’s stock. UBS AG’s price target indicates a potential downside of 11.85% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on IPXL. Zacks Investment Research upgraded Impax Laboratories from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, July 11th. BidaskClub upgraded Impax Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada set a $15.00 target price on Impax Laboratories and gave the stock a “hold” rating in a report on Sunday, July 16th. Deutsche Bank AG set a $21.00 target price on Impax Laboratories and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies upgraded Impax Laboratories from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $9.00 to $16.00 in a report on Tuesday, July 18th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.14.

Shares of Impax Laboratories (NASDAQ:IPXL) opened at 18.15 on Monday. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $25.70. The stock has a 50 day moving average price of $20.98 and a 200 day moving average price of $17.75. The stock’s market capitalization is $1.30 billion.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The business had revenue of $202.08 million for the quarter, compared to analysts’ expectations of $195.62 million. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. On average, analysts anticipate that Impax Laboratories will post $0.70 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPXL. Parametric Portfolio Associates LLC boosted its position in Impax Laboratories by 88.4% during the first quarter. Parametric Portfolio Associates LLC now owns 149,249 shares of the specialty pharmaceutical company’s stock valued at $1,888,000 after purchasing an additional 70,044 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Impax Laboratories by 1.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock valued at $214,000 after purchasing an additional 280 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Impax Laboratories by 52.4% during the first quarter. OppenheimerFunds Inc. now owns 65,523 shares of the specialty pharmaceutical company’s stock valued at $828,000 after purchasing an additional 22,521 shares during the last quarter. Principal Financial Group Inc. boosted its position in Impax Laboratories by 4.1% during the first quarter. Principal Financial Group Inc. now owns 576,949 shares of the specialty pharmaceutical company’s stock valued at $7,298,000 after purchasing an additional 22,713 shares during the last quarter. Finally, FMR LLC boosted its position in Impax Laboratories by 23.7% during the first quarter. FMR LLC now owns 498,500 shares of the specialty pharmaceutical company’s stock valued at $6,306,000 after purchasing an additional 95,432 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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