Impax Laboratories Receives a Hold from Piper Jaffray

By Ryan Adsit

Piper Jaffray analyst David Amsellem reiterated a Hold rating on Impax Laboratories (NASDAQ: IPXL) on September 15 and set a price target of $17. The company’s shares closed on Friday at $20.80.

According to TipRanks.com, Amsellem is a 1-star analyst with an average return of -0.9% and a 46.7% success rate. Amsellem covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Amphastar Pharmaceuticals.

Currently, the analyst consensus on Impax Laboratories is Moderate Buy and the average price target is $19.57, representing a -5.9% downside.

In a report issued on August 31, Raymond James also maintained a Hold rating on the stock.

Based on Impax Laboratories’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $202 million and GAAP net loss of $20.42 million. In comparison, last year the company earned revenue of $173 million and had a GAAP net loss of $2.7 million.

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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.