The stock of Impax Laboratories Inc (NASDAQ:IPXL) is a huge mover today! About 992,617 shares traded hands or 23.80% up from the average. Impax Laboratories Inc (NASDAQ:IPXL) has declined 48.56% since April 6, 2016 and is downtrending. It has underperformed by 50.52% the S&P500.
The move comes after 8 months negative chart setup for the $1.26 billion company. It was reported on Nov, 8 by Barchart.com. We have $15.49 PT which if reached, will make NASDAQ:IPXL worth $113.40M less.
Analysts await Impax Laboratories Inc (NASDAQ:IPXL) to report earnings on November, 14. They expect $0.41 earnings per share, up 2.50% or $0.01 from last year’s $0.4 per share. IPXL’s profit will be $30.39M for 10.37 P/E if the $0.41 EPS becomes a reality. After $0.21 actual earnings per share 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 12 analysts covering Impax Laboratories Inc. (NASDAQ:IPXL), 3 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 25% are positive. Impax Laboratories Inc. has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Wednesday, June 29 the stock rating was initiated by BMO Capital Markets with “Market Perform”. The company was initiated on Tuesday, September 29 by Nomura. The stock has “Positive” rating given by Susquehanna on Tuesday, July 21. BTIG Research initiated Impax Laboratories Inc (NASDAQ:IPXL) on Tuesday, October 6 with “Buy” rating. The firm has “Underperform” rating by Bank of America given on Monday, November 7. The firm earned “Hold” rating on Wednesday, August 10 by Deutsche Bank. The company was maintained on Tuesday, February 23 by RBC Capital Markets. On Tuesday, September 27 the stock rating was upgraded by Goldman Sachs to “Neutral”. Goldman Sachs initiated the stock with “Sell” rating in Monday, June 6 report. The firm has “Neutral” rating given on Wednesday, January 6 by JP Morgan.
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 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.
Morgan Stanley has 6,440 shares for 0% of their US portfolio. Walleye Trading Limited Com accumulated 3,883 shares or 0% of the stock. Fortaleza Asset Mngmt Incorporated owns 1,495 shares or 0.04% of their US portfolio. Price T Rowe Assoc Md holds 20,040 shares or 0% of its portfolio. Petrus Tru Lta last reported 8,218 shares in the company. First Quadrant L P Ca holds 0.06% or 91,600 shares in its portfolio. Mackenzie Fincl has 0% invested in the company for 20,587 shares. Plante Moran Finance Advsrs owns 33 shares or 0% of their US portfolio. Comm Financial Bank last reported 11,950 shares in the company. Bnp Paribas Arbitrage Sa has 0% invested in the company for 34,208 shares. Two Sigma Lc accumulated 7,346 shares or 0.12% of the stock. Fmr Ltd Company holds 236,126 shares or 0% of its portfolio. Hutchin Hill L P last reported 0.04% of its portfolio in the stock. Prudential Fin Incorporated last reported 0.02% of its portfolio in the stock. Teachers Retirement Systems Of The State Of Kentucky last reported 0.09% of its portfolio in the stock.
Insider Transactions: Since August 15, 2016, the stock had 0 buys, and 1 sale for $230,199 net activity. BENET LESLIE Z also sold $230,199 worth of Impax Laboratories Inc (NASDAQ:IPXL) shares.
More notable recent Impax Laboratories Inc (NASDAQ:IPXL) news were published by: Businesswire.com which released: “SHAREHOLDER ALERT: Goldberg Law PC Announces an Investigation of Impax …” on November 07, 2016, also Businesswire.com with their article: “SHAREHOLDER ALERT: Khang & Khang LLP Announces an Investigation of Impax …” published on November 08, 2016, Prnewswire.com published: “Impax Laboratories, Inc. Issues Voluntary, Nationwide Recall for One Lot of …” on August 26, 2016. More interesting news about Impax Laboratories Inc (NASDAQ:IPXL) were released by: Marketwatch.com and their article: “Impax Laboratories stock plunges as competition pushes results well below …” published on August 09, 2016 as well as Prnewswire.com‘s news article titled: “EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims …” with publication date: November 04, 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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