Leerink Swann Weighs in on Impax Laboratories Inc’s FY2017 Earnings (IPXL)
Impax Laboratories Inc (NASDAQ:IPXL) – Leerink Swann issued their FY2017 EPS estimates for shares of Impax Laboratories in a research note issued to investors on Tuesday, according to Zacks Investment Research. Leerink Swann analyst A. Fadia expects that the specialty pharmaceutical company will post earnings per share of $0.65 for the year. Leerink Swann currently has a “Outperform” rating and a $22.00 price target on the stock. Leerink Swann also issued estimates for Impax Laboratories’ Q4 2017 earnings at $0.13 EPS, FY2018 earnings at $1.15 EPS, FY2019 earnings at $1.45 EPS, FY2020 earnings at $1.64 EPS and FY2021 earnings at $1.89 EPS.
Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Impax Laboratories from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 13th. Guggenheim started coverage on shares of Impax Laboratories in a research report on Tuesday, December 12th. They set a “neutral” rating and a $18.00 price target on the stock. Canaccord Genuity set a $19.00 price target on shares of Impax Laboratories and gave the stock a “hold” rating in a research report on Monday, December 18th. Cantor Fitzgerald set a $25.00 price target on shares of Impax Laboratories and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, UBS Group increased their price target on shares of Impax Laboratories from $12.00 to $16.00 and gave the stock a “sell” rating in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Impax Laboratories has an average rating of “Hold” and a consensus price target of $19.62.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $206.40 million during the quarter, compared to analyst estimates of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. Impax Laboratories’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share.
Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its holdings in Impax Laboratories by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after acquiring an additional 780 shares in the last quarter. Amalgamated Bank acquired a new stake in Impax Laboratories in the third quarter valued at approximately $201,000. Stevens Capital Management LP acquired a new stake in Impax Laboratories in the third quarter valued at approximately $203,000. Quantbot Technologies LP raised its holdings in Impax Laboratories by 279.0% in the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock valued at $203,000 after acquiring an additional 7,384 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Impax Laboratories in the second quarter valued at approximately $207,000. 91.72% of the stock is currently owned by hedge funds and other institutional investors.
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About Impax Laboratories
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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