Impax extended FDA review a marginal negative, says Wells Fargo Wells Fargo views the FDA's extension of the review period for Impax's Rytary as marginally negative since the data was an expected near-term catalyst for shares. However, Wells notes the FDA did not request any new clinical trials and that the delay provides more time for Impax to resolve the warning letter is previously received. Wells keeps a Market Perform rating on Impax.
Impax downgraded to Sell from Neutral at UBS UBS downgraded Impax Laboratories to Sell saying the risk/reward is biased to the downside following the recent rally in shares. UBS attributes the recent run-up in shares to expectations the company will do more deals or get acquired. The firm does not see either scenario driving the stock much above current levels "any time soon." It keeps a $36 price target for Impax shares.