Impax Laboratories (NASDAQ:IPXL) was downgraded by equities researchers at Buckingham Research from a “neutral” rating to an “underperform” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $15.00 price objective on the stock. Buckingham Research’s price target would indicate a potential downside of 29.74% from the company’s current price.
IPXL has been the subject of a number of other recent research reports. Analysts at JPMorgan Cazenove raised their price target on shares of Impax Laboratories from $17.00 to $20.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Impax Laboratories from $17.00 to $20.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Impax Laboratories from $17.00 to $20.00 in a research note to investors on Tuesday, July 9th. They now have a “neutral” rating on the stock.
One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.00.
Impax Laboratories (NASDAQ:IPXL) traded down 0.23% on Monday, hitting $21.30. Impax Laboratories has a 52-week low of $14.41 and a 52-week high of $22.01. The stock’s 50-day moving average is currently $20.41. The company has a market cap of $1.422 billion and a price-to-earnings ratio of 10.80.
Impax Laboratories (NASDAQ:IPXL) last announced its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.04. The company had revenue of $129.63 million for the quarter, compared to the consensus estimate of $120.75 million. During the same quarter last year, the company posted $0.60 earnings per share. Impax Laboratories’s revenue was down 22.2% compared to the same quarter last year. Analysts expect that Impax Laboratories will post $0.26 EPS for the current fiscal year.
Impax Laboratories Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products, referred to as generics, in addition to the development and marketing of branded products.
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