Impax Rises On Unusually High Volume (IPXL)

NEW YORK ( TheStreet) -- Impax Laboratories (Nasdaq: IPXL) is trading at unusually high volume Thursday with 2.2 million shares changing hands. It is currently at four times its average daily volume and trading up $1.40 (+6.8%) at $22 as of 3:45 p.m. ET.

Impax has a market cap of $1.28 billion and is part of the health care sector and drugs industry. Shares are up 2.1% year to date as of the close of trading on Wednesday.

Impax Laboratories, Inc., a specialty pharmaceutical company, engages in the development, manufacture, and marketing of bioequivalent pharmaceutical products. The company operates in two divisions, Global Pharmaceuticals and Impax Pharmaceuticals. The company has a P/E ratio of 23, below the average drugs industry P/E ratio of 23.2 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Impax as a 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Impax Ratings Report.

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