Goldman Sachs Upgrades Impax Laboratories Inc to Neutral with Price Target $26.00

Brokerage firm Goldman Sachs Upgrades its rating on Impax Laboratories Inc(NASDAQ:IPXL). In a research note issued to the investors, the brokerage major Raises the price-target to $26.00 per share. The shares have been rated Neutral. Previously, the analysts had a Sell rating on the shares. The rating by Goldman Sachs was issued on Sep 27, 2016.

In a different note, On Aug 15, 2016, Northland Securities said it Upgrades its rating on Impax Laboratories Inc. The shares have been rated ‘Outperform’ by the firm. On Aug 10, 2016, Deutsche Bank said it Maintains its rating on Impax Laboratories Inc. In the research note, the firm Lowers the price-target to $31.00 per share. The shares have been rated ‘Hold’ by the firm.

Impax Laboratories Inc (IPXL) made into the market gainers list on Fridays trading session with the shares advancing 0.47% or 0.11 points. Due to strong positive momentum, the stock ended at $23.7, which is also near the day’s high of $24.22. The stock began the session at $23.59 and the volume stood at 9,49,071 shares. The 52-week high of the shares is $45 and the 52 week low is $20.97. The company has a current market capitalization of $1,750 M and it has 7,38,59,323 shares in outstanding.

Impax Laboratories Inc(IPXL) last announced its earnings results on Aug 9, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $172.59M. Analysts had an estimated revenue of $223.67M. Earnings per share were $0.21. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, Leslie Z Benet (director) sold 10,092 shares at $22.81 per share price.Also, On Sep 14, 2015, Michael Nestor (President, Impax Pharm.) sold 5,000 shares at $43.56 per share price.On Sep 14, 2015, Mark A Schlossberg (SVP and General Counsel) sold 7,457 shares at $43.30 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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