Impax Laboratories (IPXL) Receives Consensus Recommendation of “Hold” from Analysts

Impax Laboratories (NASDAQ:IPXL) has received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.13.

A number of research firms have commented on IPXL. Zacks Investment Research raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, March 16th. BidaskClub raised Impax Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Cantor Fitzgerald set a $35.00 target price on Impax Laboratories and gave the company a “buy” rating in a report on Thursday, March 1st. Canaccord Genuity set a $19.00 target price on Impax Laboratories and gave the company a “hold” rating in a report on Thursday, February 22nd. Finally, ValuEngine raised Impax Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

Shares of IPXL remained flat at $$18.30 during trading hours on Monday. The stock had a trading volume of 3,041,017 shares, compared to its average volume of 945,265. Impax Laboratories has a 12 month low of $13.05 and a 12 month high of $25.70. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.52 and a current ratio of 1.96. The firm has a market cap of $1.35 billion, a P/E ratio of 29.05, a PEG ratio of 0.83 and a beta of 1.15.

Several large investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. increased its position in Impax Laboratories by 12.8% during the 4th quarter. Maverick Capital Ltd. now owns 7,327,798 shares of the specialty pharmaceutical company’s stock worth $122,008,000 after purchasing an additional 833,500 shares in the last quarter. TCW Group Inc. increased its position in Impax Laboratories by 17.9% during the 1st quarter. TCW Group Inc. now owns 2,342,835 shares of the specialty pharmaceutical company’s stock worth $45,568,000 after purchasing an additional 354,885 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in Impax Laboratories by 40.5% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,056,607 shares of the specialty pharmaceutical company’s stock worth $40,001,000 after purchasing an additional 592,359 shares in the last quarter. GW&K Investment Management LLC increased its position in Impax Laboratories by 6.4% during the 1st quarter. GW&K Investment Management LLC now owns 1,979,464 shares of the specialty pharmaceutical company’s stock worth $38,501,000 after purchasing an additional 119,540 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Impax Laboratories by 103.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,279,300 shares of the specialty pharmaceutical company’s stock worth $21,300,000 after purchasing an additional 649,200 shares in the last quarter. 90.41% of the stock is owned by institutional investors and hedge funds.

About Impax Laboratories

Impax Laboratories, Inc, a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Impax Generics and Impax Specialty Pharma. The Impax Generics segment provides generic pharmaceutical products directly to wholesalers, retail drug chains, and others; generic prescription products through third-party pharmaceutical entities pursuant to alliance agreements; generic pharmaceutical over-the-counter (OTC) and prescription products to third parties; and generic pharmaceutical OTC products through third-party pharmaceutical companies pursuant to alliance agreements.

Analyst Recommendations for Impax Laboratories (NASDAQ:IPXL)

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