Needham & Company Maintains a 'Hold' on Impax Laboratories (IPXL); Concentrating Hard...On FDA Warning Letter Effects
Tweet Send to a FriendGet Alerts IPXL Hot Sheet
Price: $18.42 -1.18%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade IPXL Now!
Needham & Company maintains a 'Hold' on Impax Laboratories (NASDAQ: IPXL).
Analyst, Elliot Wilbur, said, "IPXL’s 2Q12 numbers easily outpaced expectations, with upside evenly split between solid gross profit outperformance driven by strong Adderall XR sales and larger than expected contribution from acquired Zomig franchise combined with light operating expenses. Financial outperformance however continues to be overshadowed by uncertainty and confusion related to the FDA warning letter for the Hayward manufacturing facility. A reinspection of the facility will be required to close out the warning letter, yet the work to rectify most recent 483 observations remains in-progress. The overhang has lead to value erosion for the generic pipeline (Welchol and Trilipix) and now could potentially affect the approval of Rytari."
FY12 EPS estimate raised from $1.74 to $2.15, but FY13 lowered from $2.05 to $1.95.
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 $22.22 yesterday, with a 52 week range of $14.46-$25.36.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Elliot Wilbur, said, "IPXL’s 2Q12 numbers easily outpaced expectations, with upside evenly split between solid gross profit outperformance driven by strong Adderall XR sales and larger than expected contribution from acquired Zomig franchise combined with light operating expenses. Financial outperformance however continues to be overshadowed by uncertainty and confusion related to the FDA warning letter for the Hayward manufacturing facility. A reinspection of the facility will be required to close out the warning letter, yet the work to rectify most recent 483 observations remains in-progress. The overhang has lead to value erosion for the generic pipeline (Welchol and Trilipix) and now could potentially affect the approval of Rytari."
FY12 EPS estimate raised from $1.74 to $2.15, but FY13 lowered from $2.05 to $1.95.
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 $22.22 yesterday, with a 52 week range of $14.46-$25.36.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- Lazard Cuts PT on Aruba (ARUN) to $18; Cisco Pressure Lingers, But Fundamentals Solid
- Topeka Capital Starts Laredo Petroleum (LPI) at Buy, Assets 'Undervalued'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
