The stock of Impax Laboratories Inc (NASDAQ:IPXL) hit a new 52-week low and has $12.42 target or 8.00% below today’s $13.50 share price. The 5 months bearish chart indicates high risk for the $983.14M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $12.42 price target is reached, the company will be worth $78.65 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 3.35M shares traded hands or 321.71% up from the average. Impax Laboratories Inc (NASDAQ:IPXL) has declined 49.56% since April 7, 2016 and is downtrending. It has underperformed by 54.34% the S&P500.
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 $29.86 million for 8.23 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. The stock of Impax Laboratories Inc (NASDAQ:IPXL) has “Hold” rating given on Wednesday, August 10 by Deutsche Bank. The stock of Impax Laboratories Inc (NASDAQ:IPXL) has “Market Perform” rating given on Wednesday, June 29 by BMO Capital Markets. The company was initiated on Wednesday, January 6 by JP Morgan. On Tuesday, September 29 the stock rating was initiated by Nomura with “Neutral”. The stock of Impax Laboratories Inc (NASDAQ:IPXL) has “Positive” rating given on Tuesday, July 21 by Susquehanna. The rating was maintained by Leerink Swann on Tuesday, August 11 with “Market Perform”. Goldman Sachs initiated it with “Sell” rating and $33 target price in Monday, June 6 report. Goldman Sachs upgraded the shares of IPXL in a report on Tuesday, September 27 to “Neutral” rating. The stock of Impax Laboratories Inc (NASDAQ:IPXL) has “Outperform” rating given on Monday, August 15 by Northland Capital. Northland Capital initiated Impax Laboratories Inc (NASDAQ:IPXL) on Tuesday, April 19 with “Market Perform” 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 Q2 2016. Its up 0.11, from 1.28 in 2016Q1. The ratio is positive, 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.
Price T Rowe Assoc Inc Md owns 20,040 shares or 0% of their US portfolio. Moreover, First Quadrant Ltd Partnership Ca has 0.06% invested in Impax Laboratories Inc (NASDAQ:IPXL) for 91,600 shares. California State Teachers Retirement Systems owns 153,776 shares or 0.01% of their US portfolio. The Pennsylvania-based Sei Invs Com has invested 0.01% in Impax Laboratories Inc (NASDAQ:IPXL). Commerzbank Aktiengesellschaft Fi holds 0% or 15,874 shares in its portfolio. Marshall Wace Ltd Liability Partnership has invested 0% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL). Foundry Prtnrs Limited reported 10,260 shares or 0.02% of all its holdings. Northern Trust has 1.02 million shares for 0.01% of their US portfolio. The New York-based Jpmorgan Chase & has invested 0% in Impax Laboratories Inc (NASDAQ:IPXL). Gotham Asset Ltd Liability Corp holds 0.25% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL) for 733,848 shares. Prudential Finance owns 450,061 shares or 0.02% of their US portfolio. Tekla Mngmt Limited Liability has invested 0.15% of its portfolio in Impax Laboratories Inc (NASDAQ:IPXL). Burt Wealth holds 506 shares or 0.02% of its portfolio. Cubist Systematic Strategies Lc, a Connecticut-based fund reported 25,614 shares. Barclays Public Limited Com accumulated 100,647 shares or 0% of the stock.
Insider Transactions: Since August 15, 2016, the stock had 0 buys, and 1 sale for $230,199 net activity. 10,092 shares were sold by BENET LESLIE Z, worth $230,199.
More notable recent Impax Laboratories Inc (NASDAQ:IPXL) news were published by: Businesswire.com which released: “Glancy Prongay & Murray Commences Investigation on Behalf of Impax …” on November 09, 2016, also Businesswire.com with their article: “SHAREHOLDER ALERT: Goldberg Law PC Announces an Investigation of Impax …” published on November 07, 2016, Businesswire.com published: “IMPORTANT SHAREHOLDER ALERT: Lundin Law PC Announces an Investigation of Impax …” on November 09, 2016. More interesting news about Impax Laboratories Inc (NASDAQ:IPXL) were released by: Prnewswire.com and their article: “EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims …” published on November 04, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” 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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