Impax Laboratories Inc (IPXL) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 21, 2016.
Many Wall Street Analysts have commented on Impax Laboratories Inc. Goldman Initiated Impax Laboratories Inc on Jun 6, 2016 to “Sell”, Price Target of the shares are set at $33.
On the company’s financial health, Impax Laboratories Inc reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.40. The company had revenue of $225.50 million for the quarter, 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.
Impax Laboratories Inc opened for trading at $31.8 and hit $32.52 on the upside on Monday, eventually ending the session at $31.97, with a gain of 2.01% or 0.63 points. The heightened volatility saw the trading volume jump to 6,74,664 shares. Company has a market cap of $2,360 M.
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.