Impax Laboratories (NASDAQ: IPXL) was downgraded by research analysts at Leerink Swann from an “outperform” rating to a “market perform” rating in a report released on Tuesday.
Impax Laboratories opened at 20.00 on Tuesday. Impax Laboratories has a 52-week low of $18.90 and a 52-week high of $27.25. The stock’s 50-day moving average is currently $20.13. The company has a market cap of $1.326 billion and a price-to-earnings ratio of 24.39.
Impax Laboratories last posted its quarterly earnings results on Monday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $127.03 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, analysts predict that Impax Laboratories will post $0.72 earnings per share for the current fiscal year.
IPXL has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity downgraded shares of Impax Laboratories from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Separately, analysts at Piper Jaffray cut their price target on shares of Impax Laboratories to $27.00 in a research note to investors on Tuesday, February 26th. Finally, analysts at Zacks downgraded shares of Impax Laboratories from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, January 10th. They now have a $20.80 price target on the stock.
Five analysts have rated the stock with a buy rating, seven have assigned a hold rating, and one has assigned an underweight rating to the company’s stock. Impax Laboratories has a consensus rating of “overweight” and a consensus target price of $23.00.
Impax Laboratories, Inc. (Impax) is a technology-based, specialty pharmaceutical company applying formulation and development expertise, as well as its drug delivery technology, to the development, manufacture and marketing of bioequivalent pharmaceutical products.
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