Piper Jaffray Reiterating Overweight On Impax Laboratories (IPXL)

Piper Jaffray is reiterating its Overweight rating and $30 price target on shares of Impax Laboratories (NASDAQ: IPXL).

In a note to clients, Piper Jaffray writes, "We are attending the American Academy of Neurology (AAN) meeting, where full data from the APEX-PD study evaluating IPX066 versus placebo in early-stage Parkinson's disease (PD) were presented. We discussed the results with lead investigator Rajesh Pahwa, M.D., who noted that IPX066 could be a viable front-line option as well as an option in patients who have developed motor fluctuations despite treatment with conventional levodopa/carbidopa (i.e., Sinemet). We remain convinced that IPX066 has the potential to emerge as a valuable new treatment option in a range of PD patients, and continue to believe that peak U.S. sales of around $400M or more are achievable. Impax remains our top specialty pharma pick, and we reiterate our Overweight rating and $30 PT."

Shares of IPXL gained 8 cents yesterday to close at $27.23, a gain of 0.3%.