Impax Laboratories (IPXL): Solid Generic Results - RBC

RBC Capital analyst, Randall Stanicky, reiterated his Sector Perform rating on shares of Impax Laboratories (NASDAQ: IPXL) and raised his price target to $17 from $15 after solid
generic results offset some shortfall in Specialty. In Specialty Pharma, Albenza came in lower due to an inventory shortage which has since been resolved as well as lower Zomig from additional competition. Rytary saw notably decent growth up +10% quarter-over-quarter helping to fill that gap.

The analyst stated "IPXL reported a clean 2Q with 2017 guidance largely reaffirmed and only minor changes to spend and tax. While the company is operating in a challenging generic environment, P&L performance has been surprisingly solid. To us, the key to the more material upside case is a creative M&A transaction that can expand the platform and potential bring a de-lever event".

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 $16.55 yesterday.

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