Brokerages Expect Impax Laboratories Inc (IPXL) Will Post Quarterly Sales of $196.43 Million

Brokerages expect Impax Laboratories Inc (NASDAQ:IPXL) to report sales of $196.43 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Impax Laboratories’ earnings, with estimates ranging from $188.50 million to $204.30 million. Impax Laboratories posted sales of $198.42 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Impax Laboratories will report full-year sales of $196.43 million for the current year, with estimates ranging from $773.61 million to $810.00 million. For the next financial year, analysts forecast that the company will report sales of $1.04 billion per share, with estimates ranging from $797.70 million to $1.80 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Impax Laboratories.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $206.40 million for the quarter, compared to analysts’ expectations of $208.38 million. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share.

IPXL has been the topic of a number of research analyst reports. Canaccord Genuity set a $19.00 price target on shares of Impax Laboratories and gave the company a “hold” rating in a research report on Monday, December 18th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $25.00 price target on shares of Impax Laboratories in a research report on Monday, September 25th. Guggenheim initiated 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. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target (up previously from $20.00) on shares of Impax Laboratories in a research report on Saturday, September 23rd. Finally, Zacks Investment Research raised shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Impax Laboratories currently has an average rating of “Hold” and an average price target of $19.62.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Impax Laboratories by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock worth $111,000 after acquiring an additional 780 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Impax Laboratories by 1.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 238,473 shares of the specialty pharmaceutical company’s stock worth $3,839,000 after acquiring an additional 2,463 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Impax Laboratories by 7.9% in the 2nd quarter. Voya Investment Management LLC now owns 33,947 shares of the specialty pharmaceutical company’s stock worth $547,000 after acquiring an additional 2,499 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Impax Laboratories by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 114,900 shares of the specialty pharmaceutical company’s stock worth $1,850,000 after acquiring an additional 2,500 shares during the last quarter. Finally, American International Group Inc. raised its holdings in shares of Impax Laboratories by 5.9% in the 3rd quarter. American International Group Inc. now owns 58,242 shares of the specialty pharmaceutical company’s stock worth $1,182,000 after acquiring an additional 3,233 shares during the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.

Shares of Impax Laboratories (NASDAQ:IPXL) opened at $17.88 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59. The company has a market cap of $1,320.00, a price-to-earnings ratio of -2.86, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Impax Laboratories has a 1 year low of $7.75 and a 1 year high of $25.70.

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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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Earnings History and Estimates for Impax Laboratories (NASDAQ:IPXL)

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