The stock of Impax Laboratories Inc (NASDAQ:IPXL) is a huge mover today! The stock increased 5.09% or $0.7 on November 23, hitting $14.45. About 999,402 shares traded hands. Impax Laboratories Inc (NASDAQ:IPXL) has declined 60.14% since April 22, 2016 and is downtrending. It has underperformed by 65.55% the S&P500.
The move comes after 7 months positive chart setup for the $1.03B company. It was reported on Nov, 24 by Barchart.com. We have $15.17 PT which if reached, will make NASDAQ:IPXL worth $51.50M more.
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 17.20 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. Impax Laboratories Inc. has been the topic of 19 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Tuesday, April 19 the stock rating was initiated by Northland Capital with “Market Perform”. The company was upgraded on Monday, August 15 by Northland Capital. The firm has “Market Perform” rating by Leerink Swann given on Tuesday, August 11. WallachBeth Capital downgraded the shares of IPXL in a report on Monday, November 14 to “Hold” rating. The company was initiated on Monday, June 6 by Goldman Sachs. On Tuesday, September 29 the stock rating was initiated by Nomura with “Neutral”. On Tuesday, February 23 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock of Impax Laboratories Inc (NASDAQ:IPXL) earned “Positive” rating by Susquehanna on Tuesday, July 21. JP Morgan initiated Impax Laboratories Inc (NASDAQ:IPXL) rating on Wednesday, January 6. JP Morgan has “Neutral” rating and $47 price target. The rating was upgraded by Goldman Sachs to “Neutral” on Tuesday, September 27.
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 improved, 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.
Hutchin Hill Limited Partnership holds 0.04% or 43,300 shares in its portfolio. Huntington Financial Bank, a Ohio-based fund reported 4,764 shares. Gemmer Asset Mngmt Limited Liability Company last reported 206 shares in the company. Pnc Financial Inc last reported 0% of its portfolio in the stock. Strs Ohio reported 22,200 shares or 0% of all its holdings. The Massachusetts-based Tekla Mgmt Lc has invested 0.15% in Impax Laboratories Inc (NASDAQ:IPXL). Ameriprise Inc last reported 1.00 million shares in the company. Cubist Systematic Strategies Limited Liability Company accumulated 0.04% or 25,614 shares. Piedmont Inv Advisors Ltd holds 42 shares or 0% of its portfolio. Dimensional Fund Advisors L P holds 0.03% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL) for 1.64M shares. Moreover, Secor Capital Advsrs Limited Partnership has 0.13% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 35,283 shares. University Of Notre Dame Du Lac reported 66,091 shares or 1.8% of all its holdings. Two Sigma Ltd Llc has 0.12% invested in the company for 7,346 shares. California State Teachers Retirement holds 153,776 shares or 0.01% of its portfolio. Us Savings Bank De accumulated 0% or 149 shares.
Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 1 insider sale for $230,199 net activity. $230,199 worth of shares were sold by BENET LESLIE Z on Monday, August 15.
More news for Impax Laboratories Inc (NASDAQ:IPXL) were recently published by: Prnewswire.com, which released: “SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on …” on November 19, 2016. Prnewswire.com‘s article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” and published on November 04, 2016 is yet another important article.
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.
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