Impax Laboratories (IPXL) PT Cut to $24 at Leerink Partners
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RBC Capital Cuts Price Target on Impax Laboratories (IPXL) Following Unexpected 2Q Miss
August 10, 2016 7:39 AM EDTRBC Capital maintained a Sector Perform rating on Impax Laboratories (NASDAQ: IPXL), and cut the price target to $30.00 (from $35.00), following the company's 2Q earnings report. RBC updated IPXL's model with new 2016-18 EPS estimates of $1.58, $2.24 and $2.46.
Analyst Randall Stanicky commented,... More
Impax Laboratories (IPXL) Misses Q2 EPS by 11c; Guides Lower
August 9, 2016 7:05 AM EDTImpax Laboratories (NASDAQ: IPXL) reported Q2 EPS of $0.21, $0.11 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $173 million versus the consensus estimate of $223.67 million.
"Our second quarter results reflect the unexpected and rapid decline in sales of diclofenac and metaxalone as a result of additional competition," said Fred Wilkinson, President and Chief Executive Officer of Impax. "In particular, the change in the diclofenac market quickly moved us from an exclusive supplier position to a five competitor... More
