Following the Food and Drug Administration’s approval of its latest generic Renvela drug last week, Impax Laboratories, Inc. (NASDAQ:$IPXL) shares rose 5.7% to $21.50. The company indicated that sales of the sevelamer carbonate, the generic name for Renvela, are reflected in its earnings outlook of 55 cents to 70 cents a share this year.
In the bigger picture, investors sentiment has decreased to 0.9 in 2017 Q2, from 1.3 in 2017 Q1. In total, 28 investors sold Impax shares while 53 reduced holdings. 24 funds opened positions while 49 raised stakes. 62.83 million shares of 2.46% more from 61.32 million shares in 1Q17 were reported.
Investors await Impax’s next earnings report to be released on November 8th. As for expectations, Wall Street speculates $0.19 earnings per share, down $0.18 or 48.65% from last year’s $0.37 same quarter earnings.
Among the 20 analysts covering Impax, 5 have recommended a buy, 2 have recommended a sell, and 13 have recommended a hold. Therefore, 25% are positive.
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