Impax Laboratories, Inc. (IPXL) PT Set at $21.00 by Deutsche Bank AG

Impax Laboratories, Inc. (NASDAQ:IPXL) has been given a $21.00 price objective by equities research analysts at Deutsche Bank AG in a research note issued to investors on Monday. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 15.07% from the stock’s previous close.

Several other equities research analysts also recently weighed in on IPXL. Guggenheim reiterated a “buy” rating and issued a $20.00 price target on shares of Impax Laboratories in a report on Monday, March 27th. Royal Bank Of Canada restated a “sector perform” rating and set a $10.00 price objective on shares of Impax Laboratories in a report on Sunday, April 2nd. Vetr downgraded Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 price objective on the stock. in a report on Monday, April 24th. Zacks Investment Research upgraded Impax Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Finally, Janney Montgomery Scott restated a “neutral” rating and set a $21.00 price objective on shares of Impax Laboratories in a report on Monday, June 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Impax Laboratories has an average rating of “Hold” and an average price target of $18.60.

Impax Laboratories (NASDAQ:IPXL) traded down 5.21% during trading on Monday, hitting $17.30. The stock had a trading volume of 685,740 shares. Impax Laboratories has a 12 month low of $7.75 and a 12 month high of $31.85. The stock has a 50 day moving average price of $16.04 and a 200-day moving average price of $13.72. The stock’s market cap is $1.24 billion.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.01. Impax Laboratories had a positive return on equity of 7.71% and a negative net margin of 71.50%. The business had revenue of $184.40 million during the quarter, compared to analysts’ expectations of $193.17 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 18.2% compared to the same quarter last year. On average, equities analysts predict that Impax Laboratories will post $0.66 EPS for the current year.

A number of hedge funds have recently made changes to their positions in IPXL. State of Alaska Department of Revenue boosted its stake in shares of Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock valued at $102,000 after buying an additional 150 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Impax Laboratories by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock valued at $182,000 after buying an additional 171 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Impax Laboratories by 1.7% in 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 buying an additional 280 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock valued at $380,000 after buying an additional 300 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Impax Laboratories by 0.8% in the first quarter. Arizona State Retirement System now owns 38,376 shares of the specialty pharmaceutical company’s stock valued at $485,000 after buying an additional 300 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.