Stock Buzzer: Is Selling 52-Week Stock Like Impax Laboratories Inc a Winning Strategy?

Stock Buzzer: Is Selling 52 Week Stock Like Impax Laboratories Inc a Winning Strategy?

The stock of Impax Laboratories Inc (NASDAQ:IPXL) hit a new 52-week low and has $12.51 target or 9.00% below today’s $13.75 share price. The 5 months bearish chart indicates high risk for the $980.19 million company. The 1-year low was reported on Nov, 23 by Barchart.com. If the $12.51 price target is reached, the company will be worth $88.22 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock last traded at $13.75 per share. It is down 62.23% since April 21, 2016 and is downtrending. It has underperformed by 67.55% the S&P500.

Analysts await Impax Laboratories Inc (NASDAQ:IPXL) to report earnings on February, 27. They expect $0.21 EPS, down 66.13% or $0.41 from last year’s $0.62 per share. IPXL’s profit will be $14.97M for 16.37 P/E if the $0.21 EPS becomes a reality. After $0.37 actual EPS reported by Impax Laboratories Inc for the previous quarter, Wall Street now forecasts -43.24% negative EPS growth.

Impax Laboratories Inc (NASDAQ:IPXL) Ratings Coverage

Out of 13 analysts covering Impax Laboratories Inc. (NASDAQ:IPXL), 3 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 23% are positive. $60 is the highest target while $18 is the lowest. The $33.50 average target is 143.64% above today’s ($13.75) stock price. Impax Laboratories Inc. has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was initiated on Tuesday, October 6 by BTIG Research. The firm has “Sell” rating by Goldman Sachs given on Monday, June 6. WallachBeth Capital downgraded it to “Hold” rating and $18 target price in Monday, November 14 report. The stock has “Market Perform” rating given by Northland Capital on Tuesday, April 19. The firm has “Outperform” rating by Northland Capital given on Monday, August 15. The firm earned “Neutral” rating on Tuesday, September 29 by Nomura. The stock of Impax Laboratories Inc (NASDAQ:IPXL) has “Sector Perform” rating given on Thursday, November 10 by RBC Capital Markets. The stock of Impax Laboratories Inc (NASDAQ:IPXL) has “Underperform” rating given on Monday, November 7 by Bank of America. The firm has “Positive” rating by Susquehanna given on Tuesday, July 21. On Wednesday, August 10 the stock rating was maintained by Deutsche Bank with “Hold”.

According to Zacks Investment Research, “Impax Laboratories, Inc. is a technology-based, specialty pharmaceutical company engaged in the development, manufacture, and marketing of specialty prescription pharmaceutical products utilizing its own formulation expertise and drug delivery technologies. IMPAX Laboratories is focusing on two key areas, namely Generic Pharmaceutical Products and Branded Pharmaceutical Products. In the generic pharmaceuticals market, it focuses its efforts on controlled-release generic versions of selected brand-name pharmaceuticals covering a range of therapeutic areas. In the brand-name pharmaceuticals market, Impax is developing products for the treatment of central nervous system disorders. The company sells its products to large pharmaceutical wholesalers, warehousing chain drug stores, mass merchandisers, and mail-order pharmacies through strategic alliances and the company’s global pharmaceuticals division.”

Insitutional Activity: The institutional sentiment increased to 1.43 in Q2 2016. Its up 0.04, from 1.39 in 2016Q1. The ratio increased, as 26 funds sold all Impax Laboratories Inc shares owned while 50 reduced positions. 27 funds bought stakes while 79 increased positions. They now own 64.34 million shares or 0.71% less from 64.79 million shares in 2016Q1.
Tygh Cap Mngmt has 137,190 shares for 1.11% of their US portfolio. Trexquant Investment Lp has 0.12% invested in the company for 32,300 shares. Aqr Management Ltd Llc last reported 0% of its portfolio in the stock. Mackenzie Fincl has invested 0% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL). Royal Fincl Bank Of Canada accumulated 377,325 shares or 0.01% of the stock. Thrivent Fincl For Lutherans holds 0.02% or 168,869 shares in its portfolio. Oxford Asset last reported 16,889 shares in the company. Cornerstone Management Limited Co has 119,307 shares for 0.03% of their US portfolio. Comerica Comml Bank holds 70,155 shares or 0.01% of its portfolio. Reilly Advsrs Limited Liability Corporation has 500 shares for 0% of their US portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 2,119 shares. Penn Com, a Pennsylvania-based fund reported 502,073 shares. Cornercap Inv Counsel last reported 0.09% of its portfolio in the stock. Emerald Mutual Fund Advisers owns 267,131 shares or 0.43% of their US portfolio. Geode Capital Mgmt Limited Liability Co last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since August 15, 2016, the stock had 0 buys, and 1 insider sale for $230,199 net activity. BENET LESLIE Z sold $230,199 worth of Impax Laboratories Inc (NASDAQ:IPXL) on Monday, August 15.

More important recent Impax Laboratories Inc (NASDAQ:IPXL) news were published by: Prnewswire.com which released: “Shareholder Class Action Filed Against Impax Laboratories, Inc. – IPXL” on November 12, 2016, also Prnewswire.com published article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …”, Prnewswire.com published: “Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Impax Laboratories …” on November 16, 2016. More interesting news about Impax Laboratories Inc (NASDAQ:IPXL) was released by: Prnewswire.com and their article: “Impax Reports Third Quarter 2016 Financial Results” with publication date: November 09, 2016.

IPXL Company Profile

Impax Laboratories, Inc., incorporated on March 23, 1995, is a specialty pharmaceutical company. The Firm is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. The Company’s divisions include Impax Generics and Impax Specialty Pharma. The Impax Generics segment is focused on the development, manufacture, sale and distribution of the Company’s generic products, which are the pharmaceutical and therapeutic equivalents of brand-name drug products and are marketed under their established drug names. The Impax Specialty Pharma segment is engaged in the promotion, sale and distribution of various branded products, including its branded pharmaceutical product, Rytary, an extended release oral capsule formulation of carbidopa-levodopa for the treatment of Parkinson’s disease (PD), post-encephalitic Parkinsonism and Parkinsonism, and Zomig (zolmitriptan) products, indicated for the treatment of migraine headaches.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment