Jefferies Lowers Numbers on Impax Laboratories (IPXL)

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Jefferies lowered estimates and its price target on Impax Laboratories (NASDAQ: IPXL) from $21.00 to $20.00 citing AXR competition.

The firm comments, "We've been uneasy with IPXL geared to Gx AXR revenues at risk of competition and ending completely in ’14. News of Actavis/WPI’s AXR approval means an immediate hit to ’12-’14 REV, partially offset by lower royalty payout. This might pave the way for IPXL’s own AXR approval but we doubt it – some speculate Concerta as well – but certain losses trump uncertain gains."

FY12 EPS goes from $1.92 to $1.88 and FY13 goes from $1.42 to $1.29.

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 $22.85 yesterday, with a 52 week range of $14.46-$25.36.

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