The Vetr crowd downgraded its rating for Impax Laboratories Inc (NASDAQ: IPXL) from 5 stars (Strong Buy), issued two days ago, to 1 star (Strong Sell). Crowd sentiment at the time of the downgrade was still generally positive, with 62 percent of Vetr user ratings bullish.
The sharp downgrade in the pharmaceutical company's rating comes the same day as its stock reached a recent level of resistance below the $13.75 mark. The stock hit a sharp upswing at the end of March, jumping more than 47 percent after the company named a new CEO. This following a period of uncertainty when Reuters reported Impax was working with Morgan Stanley to review strategic options for the company's future, including potential acquisition.
Since naming its new CEO, Impax has fluctuated primarily between the $12.50 and $13.50 levels. The stock closed the April 24 trading day at $13.55, slightly above its previous close of $13.50.
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Currently, the Vetr crowd's average target price for Impax is down at $10.55, which is well below the average analyst target price of $19.92. Less than 2 percent of Vetr users are holding IPXL in their watch lists.
Latest Ratings for IPXL
|Mar 2017||Deutsche Bank||Upgrades||Hold||Buy|
|Dec 2016||Janney Capital||Initiates Coverage On||Neutral|
View More Analyst Ratings for IPXL
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