Market Overview

UPDATE: Piper Jaffray Cuts PT to $27 on Impax Laboratories on Rytary Launch Visibility

Related IPXL
FTC Requires Divestitures in Connection With Impax Laboratories Inc.'s Proposed Acquisition of CorePharma, LLC
JPM Securities Picks Through Biotech News For Winners

Piper Jaffray maintained Impax Laboratories (NASDAQ: IPXL) with an Overweight rating and lowered the price target from $29.00 to $27.00.

Piper Jaffray commented, "With a compelling net cash position of now close to $460M... in the context of a $1.3B market cap and 2013 operating cash flows pushing the cash position well north of $7 per share (near 40% of IPXL's market cap), we believe the risk/reward profile of IPXL shares is attractive. We reiterate our Overweight rating and are lowering our PT to $27 from $29. … We have lowered our price target from $29 to $27 based on 20x (up from 14x) our 2015E EPS of $1.61 (previously 2014E EPS of $2.06), discounted by 20% for 1 year (previously undiscounted) … given the continued uncertainty regarding the timing of a warning letter resolution and subsequent launches of Rytary and several key generic products."

Impax Laboratories closed at $19.62 on Monday.

Latest Ratings for IPXL

Mar 2015Piper JaffrayUpgradesNeutralOverweight
Feb 2015JP MorganMaintainsNeutral
Feb 2015JMP SecuritiesMaintainsMarket Outperform

View More Analyst Ratings for IPXL
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings


Related Articles (IPXL)

Around the Web, We're Loving...