NEW YORK (
-- Impax Laboratories Incorporated
) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
Impax Laboratories, Inc., a specialty pharmaceutical company, engages in the development and commercialization of bioequivalent and brand-name pharmaceuticals. It operates in two divisions, Global Pharmaceuticals and Impax Pharmaceutical. The company has a P/E ratio of 5.2, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 22.6. Impax has a market cap of $1.4 billion and is part of the
industry. Shares are up 4.2% year to date as of the close of trading on Thursday.
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