Auriga Maintains a 'Buy' on Impax Laboratories (IPXL); Generic Adderall XR Sales In-Line

Auriga maintains a 'Buy' on Impax Laboratories (NASDAQ: IPXL) price target of $30.00.

Analyst, Louise Chen, said, "We estimate generic Adderall XR sales of $52.6MM for 1Q12 .This is slightly lower than 1Q12 consensus estimates of $54MM for generic Adderall XR sales. We estimated $30MM of generic Adderall XR sales in our financial model. The $1.4MM less of generic Adderall XR sales relative to consensus translates into less than $0.01 of EPS downside, by our estimate. We are making no changes to our financial model for now and will update our generic Adderall XR forecasts after IPXL's 1Q12 earnings results on 5/1/12. This morning Shire reported 1Q12 earnings results. The company noted Adderall XR royalties of $25.3MM which translates into about $52.6MM in generic Adderall XR sales for IPXL, by our estimate. In 3Q11, Shire reported royalties of $22.9MM and IPXL reported generic Adderall XR sales of $46.9MM. In 4Q11, Shire reported royalties of $40.5MM and IPXL reported generic Adderall XR sales of $84.2MM."

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 $24.80 yesterday.

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