Goldman Sachs Initiates Coverage on Impax Laboratories Inc to Sell

Goldman Sachs Initiates Coverage on Impax Laboratories Inc(NASDAQ:IPXL). The shares have been rated Sell. The rating by Goldman Sachs was issued on Jun 6, 2016.

In a different note, Northland Securities said it Initiates Coverage on Impax Laboratories Inc, according to a research note issued on Apr 19, 2016. The shares have been rated ‘Market Perform’ by the firm.

Impax Laboratories Inc (IPXL) shares turned negative on Fridays trading session with the shares closing down -1.11 points or -3.31% at a volume of 4,88,290. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33.5. The peak price level was also seen at $33.5 while the days lowest was $32.025. Finally the shares closed at $32.45. The 52-week high of the shares is $51.42 while the 52-week low is $27.62. According to the latest information available, the market cap of the company is $2,395 M.

Impax Laboratories Inc(IPXL) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $225.51M. Analysts had an estimated revenue of $247.20M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.39.

Several Insider Transactions has been reported to the SEC. On Sep 14, 2015, Michael Nestor (President, Impax Pharm.) sold 5,000 shares at $43.56 per share price.Also, 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.

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