Impax Laboratories (IPXL): Cutting PT But Reiterating Overweight Rating - Piper Jaffray

August 10, 2016 7:36 AM EDT
Get Alerts IPXL Hot Sheet
Price: $12.05 --0%

Rating Summary:
    8 Buy, 16 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
Trade IPXL Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Piper Jaffray analyst, David Amsellem, reiterated his Overweight rating on shares of Impax Laboratories (NASDAQ: IPXL) after the company Impax reported 2Q16 non-GAAP EPS of $0.21 on revenue of $173M, well short of the Street estimates of $0.32 and $224M, IPXL provided guidance following the announcement of the acquisition of Teva/Actavis generic assets in June, its hard to fathom how it could not have foreseen or known how conditions surrounding key products would further deteriorate.

However, the Teva/Actavis deal represents an upgrade of the generics portfolio. Given that backdrop, the analyst believes the risk/reward profile for IPXL is favorable with a 2017 P/E and EV/ EBITDA of 10x and 9x.

The price target drops to $32 from $40.

For an analyst ratings summary and ratings history on Impax Laboratories click here. For more ratings news on Impax Laboratories click here.

Shares of Impax Laboratories closed at $23.43 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Piper Jaffray, Definitive Agreement

Add Your Comment