Impax Laboratories Inc (IPXL) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $0.43 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.40. The company posted revenue of $225.50 million in the period, compared to analysts expectations of $247.55 million. The company’s revenue was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.
Many Wall Street Analysts have commented on Impax Laboratories Inc. Shares were Reiterated by RBC Capital Mkts on Feb 23, 2016 to “Sector Perform” and Lowered the Price Target to $ 40 from a previous price target of $48 .
Impax Laboratories Inc closed down -2.47 points or -7.65% at $29.8 with 17,49,323 shares getting traded on Friday. Post opening the session at $31.74, the shares hit an intraday low of $28.92 and an intraday high of $31.875 and the price fluctuated in this range throughout the day.Shares ended Friday 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.