Impax Laboratories Receives a Hold from BMO Capital

By Jason Carr

BMO Capital analyst Gary Nachman reiterated a Hold rating on Impax Laboratories (NASDAQ: IPXL) yesterday and set a price target of $16. The company’s shares closed yesterday at $16.70.

According to, Nachman is a 4-star analyst with an average return of 12.6% and a 63.4% success rate. Nachman covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Sucampo Pharmaceuticals, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Impax Laboratories is Moderate Buy and the average price target is $15.67, representing a -6.2% downside.

In a report issued on June 12, RBC Capital also reiterated a Hold rating on the stock with a $15 price target.

The company has a one year high of $32.20 and a one year low of $7.75. Currently, Impax Laboratories has an average volume of 2.12M.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Last month, Michael Nestor, the President of IPXL sold 3,702 shares for a total of $64,962.

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Impax Laboratories, Inc. operates as a technology based specialty pharmaceutical company, which engages in the development, manufacture, and marketing of controlled-release and niche generics. It operates through the Impax Generics and Impax Specialty Pharma segments. The Impax Generics segment concentrates on the development manufacture, sale and distribution of generic products, which are the pharmaceutical and therapeutic equivalents of brand-name drug products and are usually marketed under their established nonproprietary drug names rather than by a brand name. The Impax Specialty Pharma segment engages in the development of proprietary brand pharmaceutical products. The company was founded on December 14, 1999 and is headquartered in Hayward, CA.,002R2W-E