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Can Impax Laboratories (IPXL) Run Higher on Strong Earnings Estimate Revisions?

Zacks Equity Research

Impax Laboratories Inc. (IPXL), a major drug manufacturer, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on IPXL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Impax Laboratories could be a solid choice for investors.

Current Quarter Estimates for IPXL

In the past 30 days, there has been no upward or downward movement in estimate revisions. Nonetheless, the consensus estimate trend has been pretty favorable, with estimates increasing significantly from loss of 2 cents a share 30 days ago to earnings of 3 cents today.

Current Year Estimates for IPXL

Meanwhile, Impac’s current year figures are also looking quite promising, with 7 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 75 cents per share 30 days ago to 87 cents per share today, an increase of 16%.

Bottom Line

The stock has also started to move higher lately, adding 6.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (IPXL) stock to profit in the near future.

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IMPAX LABORATORIES INC (IPXL): Free Stock Analysis Report

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