Impax Laboratories Inc (IPXL) is Reiterated by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 30

Impax Laboratories Inc (IPXL) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 30 from a previous price target of $35 . RBC Capital Mkts advised their investors in a research report released on Aug 10, 2016.

Many Wall Street Analysts have commented on Impax Laboratories Inc. Shares were Reiterated by WallachBeth on Aug 10, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $40 .Shares were Reiterated by Leerink Partners on Aug 10, 2016 to “Mkt Perform” and Lowered the Price Target to $ 24 from a previous price target of $33 .Impax Laboratories Inc was Upgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016.

On the company’s financial health, Impax Laboratories Inc reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.32. The company had revenue of $172.60 million for the quarter, compared to analysts expectations of $223.67 million. The company’s revenue was down -19.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.34 EPS.

Impax Laboratories Inc closed down -0.19 points or -0.62% at $30.59 with 8,64,094 shares getting traded on Monday. Post opening the session at $30.85, the shares hit an intraday low of $30.44 and an intraday high of $31.14 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Sep 14, 2015, Michael Nestor (President, Impax Pharm.) sold 5,000 shares at $43.56 per share price. According to the SEC, on Sep 14, 2015, Mark A Schlossberg (SVP and General Counsel) sold 7,457 shares at $43.30 per share price. On Sep 1, 2015, Leslie Z Benet (director) sold 20,000 shares at $40.92 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company operates in two segments: Impax Generics and Impax Specialty Pharma. The Impax Generics 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 is engaged in the development of brand pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Impax Specialty Pharma is also engaged in the sale and distribution of Zomig (zolmitriptan) products indicated for the treatment of migraine headaches.

Impax Laboratories Inc

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