Canaccord Genuity Reiterates a 'Buy' on Impax Laboratories (IPXL); Near-Term Path Still Vatalyst-Heavy
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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: 5 | New: 26
Rating Summary:
8 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Impax Laboratories (NASDAQ: IPXL) price target of $29.00.
Analyst, Randall Stanicky, said, "Impax reported Q4 results that came with generic Adderall XR driven upside that otherwise marked an uneventful quarter. We think the stock is less about near-term P&L performance (good or bad) and more about two things: (1) several catalysts that create an upward skew to our $29 price target and (2) still underappreciated outlook for 2013 and beyond that we think will ultimately look even better when we see pipeline conversion and more deal activity – both anticipated though visibility low. Manufacturing remediation and potential settlement with Shire on Adderall XR supply both likely Q2 events that we think will continue the rally and reasons we would own the stock here. Bottom line: thesis unchanged with IPXL still our top small cap generic stock."
"For 2012-2015 EPS we are now at $1.94, $2.01 $2.86 and $2.29. The biggest swing factor in our model remains Adderall XR which pending a settlement of litigation outcome (trial April 10) will likely keep P&L volatility present though unlikely to be overly impactful to the stock."
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 $23.62 yesterday.
Analyst, Randall Stanicky, said, "Impax reported Q4 results that came with generic Adderall XR driven upside that otherwise marked an uneventful quarter. We think the stock is less about near-term P&L performance (good or bad) and more about two things: (1) several catalysts that create an upward skew to our $29 price target and (2) still underappreciated outlook for 2013 and beyond that we think will ultimately look even better when we see pipeline conversion and more deal activity – both anticipated though visibility low. Manufacturing remediation and potential settlement with Shire on Adderall XR supply both likely Q2 events that we think will continue the rally and reasons we would own the stock here. Bottom line: thesis unchanged with IPXL still our top small cap generic stock."
"For 2012-2015 EPS we are now at $1.94, $2.01 $2.86 and $2.29. The biggest swing factor in our model remains Adderall XR which pending a settlement of litigation outcome (trial April 10) will likely keep P&L volatility present though unlikely to be overly impactful to the stock."
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 $23.62 yesterday.
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