Piper Jaffray Reiterating Overweight On Impax Laboratories (IPXL)

Piper Jaffray is reiterating its Overweight rating and $30 price target on shares of Impax Laboratories

. In a note to clients, Piper Jaffray writes, "We conducted a survey of 25 neurologists primarily at large practices treating patients with Parkinson's disease (PD). The feedback suggested there is potential for significant usage of Impax's IPX066 in advanced PD as well as first-line patients, particularly in the wake of the recent positive results we saw from the head-to-head study versus immediate-release levodopa/carbidopa (i.e., Sinemet). The feedback reinforces our view that IPX066 will see wide usage, making our U.S. peak sales estimate of $400M or higher realistic in our view. A detailed spreadsheet of the results, by individual doctor, is available. IPXL remains our top specialty pharma pick, and we reiterate our Overweight rating and $30 PT." Shares of IPXL gained 46 cents yesterday to close at $25.52, a gain of 1.8%.