Impax price target raised to $35 from $27 at Piper Jaffray Piper Jaffray raised its price target for Impax shares to $35 saying it sees more upside potential than downside risk even with the absence of a resolution of the FDA warning letter related to the Hayward manufacturing facility. Piper reiterates an Overweight rating on the stock.
Impax reports Q4 adjusted EPS 16c, consensus 12c Reports Q4 revenue $131.2M, consensus $125.47M. Reports Q4 Global Pharmaceuticals revenue $117.9M. The increase is due to higher sales of several key generic products as well as the impact of customer credits that were recorded in the prior year period of $19.2 million as a result of customer credits relating to certain pricing activities.