Canaccord Genuity Reiterates a 'Buy' on Impax Labs (IPXL); Raising Estimates on Deal Announcement; Sentiment Starting to Shift
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Price: $18.30 --0%
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Impax Laboratories (NASDAQ: IPXL) price target raised $1 to $29.00.
Analyst, Randall Stanicky, said, "We are raising EPS through 2015 following today’s announced licensing deal with AstraZeneca (NYSE: AZN) for migraine drug Zomig. This deal fits nicely in IPXL’s wheelhouse and as we said (1) bridges the cost gap until an early 2013 IPX-066 approval and launch, (2) provides a boost in EPS that we think is sustainable in the ~ $0.30 range in 2014+ and (3) adds credibility to management’s ability to get deals done with what will remain significant financial flexibility from here. We think sentiment will continue to improve as we move toward close-out of the FDA warning letter and a much more robust 2013+ outlook, which we want to be in front of."
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 $20.60 yesterday.
Analyst, Randall Stanicky, said, "We are raising EPS through 2015 following today’s announced licensing deal with AstraZeneca (NYSE: AZN) for migraine drug Zomig. This deal fits nicely in IPXL’s wheelhouse and as we said (1) bridges the cost gap until an early 2013 IPX-066 approval and launch, (2) provides a boost in EPS that we think is sustainable in the ~ $0.30 range in 2014+ and (3) adds credibility to management’s ability to get deals done with what will remain significant financial flexibility from here. We think sentiment will continue to improve as we move toward close-out of the FDA warning letter and a much more robust 2013+ outlook, which we want to be in front of."
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 $20.60 yesterday.
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