The stock of Impax Laboratories Inc (NASDAQ:IPXL) is a huge mover today! About 1.01 million shares traded hands or 34.38% up from the average. Impax Laboratories Inc (NASDAQ:IPXL) has declined 49.26% since April 4, 2016 and is downtrending. It has underperformed by 50.35% the S&P500.
The move comes after 7 months positive chart setup for the $1.26 billion company. It was reported on Nov, 4 by Barchart.com. We have $25.20 PT which if reached, will make NASDAQ:IPXL worth $554.40 million more.
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 $29.52M for 10.67 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. BMO Capital Markets initiated the shares of IPXL in a report on Wednesday, June 29 with “Market Perform” rating. Goldman Sachs upgraded the stock to “Neutral” rating in Tuesday, September 27 report. The company was initiated on Tuesday, April 19 by Northland Capital. Leerink Swann maintained it with “Market Perform” rating and $47 target price in Tuesday, August 11 report. The stock of Impax Laboratories Inc (NASDAQ:IPXL) earned “Buy” rating by BTIG Research on Tuesday, October 6. As per Monday, June 6, the company rating was initiated by Goldman Sachs. The rating was initiated by JP Morgan on Wednesday, January 6 with “Neutral”. The stock of Impax Laboratories Inc (NASDAQ:IPXL) earned “Outperform” rating by Northland Capital on Monday, August 15. Nomura initiated it with “Neutral” rating and $40 target price in Tuesday, September 29 report. The rating was initiated by Susquehanna on Tuesday, July 21 with “Positive”.
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 Q2 2016. Its up 0.11, from 1.28 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.
Alps Advsrs holds 0.03% or 103,693 shares in its portfolio. Nomura Incorporated last reported 141,697 shares in the company. Sei Invs reported 71,720 shares or 0.01% of all its holdings. Barclays Public Ltd Liability accumulated 0% or 100,647 shares. The California-based California State Teachers Retirement Sys has invested 0.01% in Impax Laboratories Inc (NASDAQ:IPXL). Loomis Sayles And Limited Partnership has 0.04% invested in the company for 529,392 shares. Voya Invest Mngmt Ltd Liability Com holds 0% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL) for 43,497 shares. Trexquant L P holds 32,300 shares or 0.12% of its portfolio. The California-based Checchi Advisers Ltd has invested 0% in Impax Laboratories Inc (NASDAQ:IPXL). Teachers has invested 0.03% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL). Blackrock Fund Advsr holds 0.04% or 5.80 million shares in its portfolio. Pictet Asset Mgmt Ltd holds 0.01% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL) for 75,685 shares. Guggenheim Cap holds 133,531 shares or 0.01% of its portfolio. Moreover, Blackrock Institutional Com Na has 0.01% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 1.73 million shares. Millennium Mngmt Lc accumulated 0.02% or 343,809 shares.
Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 1 sale for $230,199 net activity. BENET LESLIE Z sold $230,199 worth of stock or 10,092 shares.
More 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 published the news titled: “Impax Laboratories stock plunges as competition pushes results well below …” on August 09, 2016. Bizjournals.com‘s news article titled: “Sweeping drug-pricing investigation pulls in East Bay company” with publication date: November 04, 2016 was also an interesting one.
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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