The stock of Impax Laboratories Inc (NASDAQ:IPXL) hit a new 52-week low and has $18.91 target or 8.00% below today’s $20.55 share price. The 9 months bearish chart indicates high risk for the $1.58 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $18.91 price target is reached, the company will be worth $126.40 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. About 355,423 shares traded hands. Impax Laboratories Inc (NASDAQ:IPXL) has declined 34.57% since March 31, 2016 and is downtrending. It has underperformed by 37.10% the S&P500.
Analysts await Impax Laboratories Inc (NASDAQ:IPXL) to report earnings on November, 14. They expect $0.41 EPS, up 2.50% or $0.01 from last year’s $0.4 per share. IPXL’s profit will be $31.52M for 12.53 P/E if the $0.41 EPS becomes a reality. After $0.21 actual EPS reported by Impax Laboratories Inc for the previous quarter, Wall Street now forecasts 95.24% EPS growth.
Impax Laboratories Inc (NASDAQ:IPXL) Ratings Coverage
Out of 11 analysts covering Impax Laboratories Inc. (NASDAQ:IPXL), 3 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 27% are positive. Impax Laboratories Inc. has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Positive” rating by Susquehanna given on Tuesday, July 21. The company was upgraded on Tuesday, September 27 by Goldman Sachs. The rating was initiated by BMO Capital Markets on Wednesday, June 29 with “Market Perform”. The rating was initiated by Goldman Sachs on Monday, June 6 with “Sell”. The firm has “Outperform” rating given on Monday, August 15 by Northland Capital. On Tuesday, April 19 the stock rating was initiated by Northland Capital with “Market Perform”. The stock of Impax Laboratories Inc (NASDAQ:IPXL) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, February 23. Leerink Swann maintained it with “Market Perform” rating and $47 target price in Tuesday, August 11 report. The rating was initiated by BTIG Research with “Buy” on Tuesday, October 6. Nomura initiated the shares of IPXL in a report on Tuesday, September 29 with “Neutral” rating.
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 1.39 in 2016 Q2. Its up 0.11, from 1.28 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.
Moreover, Commerzbank Aktiengesellschaft Fi has 0% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 15,874 shares. Moreover, Pnc Inc has 0% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 417 shares. Burt Wealth Advsrs accumulated 506 shares or 0.02% of the stock. Hutchin Hill Capital L P last reported 43,300 shares in the company. Capital Fund Sa reported 16,600 shares or 0% of all its holdings. Two Sigma Secs Lc accumulated 0.12% or 7,346 shares. Trexquant Investment L P has invested 0.12% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL). The Tennessee-based Ftb has invested 0% in Impax Laboratories Inc (NASDAQ:IPXL). Qs Invsts Ltd Liability has 0.04% invested in the company for 170,057 shares. Moreover, Tygh Capital Mgmt has 1.11% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 137,190 shares. Jpmorgan Chase And reported 86,205 shares or 0% of all its holdings. Northern Tru, a Illinois-based fund reported 1.02 million shares. The Connecticut-based Cubist Systematic Strategies Ltd Limited Liability Company has invested 0.04% in Impax Laboratories Inc (NASDAQ:IPXL). Blackrock Fund Advisors has 0.04% invested in the company for 5.80M shares. Citigroup Inc holds 0% or 33,982 shares in its portfolio.
Insider Transactions: Since August 15, 2016, the stock had 0 buys, and 1 insider sale for $230,199 net activity. BENET LESLIE Z sold 10,092 shares worth $230,199.
More notable recent Impax Laboratories Inc (NASDAQ:IPXL) news were published by: Prnewswire.com which released: “Impax Laboratories, Inc. Issues Voluntary, Nationwide Recall for One Lot of …” on August 26, 2016, also Marketwatch.com with their article: “Impax Laboratories stock plunges as competition pushes results well below …” published on August 09, 2016, Prnewswire.com published: “Impax Provides Update on Epinephrine Injection, USP Auto-Injector” on August 30, 2016. More interesting news about Impax Laboratories Inc (NASDAQ:IPXL) were released by: Prnewswire.com and their article: “Richard A. Bierly Appointed to Impax Laboratories Board of Directors” published on August 22, 2016 as well as Prnewswire.com‘s news article titled: “Impax Reports Second Quarter 2016 Financial Results” with publication date: August 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.
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