Revenue Update on Impax Laboratories Inc(NASDAQ:IPXL)

Impax Laboratories Inc(NASDAQ:IPXL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $172.59M. Analysts estimated a revenue of $223.67M. Earnings per share were $0.21. Analysts had estimated an EPS of $0.32.

In a different note, BMO Capital said it Initiates Coverage on Impax Laboratories Inc, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Market Perform’ by the firm. On Jun 21, 2016, Bank of America said it Upgrades its rating on Impax Laboratories Inc. The shares have been rated ‘Neutral’ by the firm. Goldman Sachs said it Initiates Coverage on Impax Laboratories Inc, according to a research note issued on Jun 6, 2016. The shares have been rated ‘Sell’ by the firm.

Impax Laboratories Inc (IPXL) made into the market gainers list on Wednesdays trading session with the shares advancing 1.40% or 0.32 points. Due to strong positive momentum, the stock ended at $23.19, which is also near the day’s high of $23.27. The stock began the session at $22.97 and the volume stood at 12,24,789 shares. The 52-week high of the shares is $47.48 and the 52 week low is $20.97. The company has a current market capitalization of $1,713 M and it has 7,38,59,323 shares in outstanding.

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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