Impax Laboratories, Inc. was a big mover last session, as the company saw its shares rise nearly 21% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $15.1 –$19 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came after China's Shanghai Fosun Pharmaceutical (Group) Co. Ltd. disclosed a passive 5.19% stake in the firm.
The company has seen a mixed track record when it comes to estimate revisions of three increase and two decrease over the past two months, while the Zacks Consensus Estimate for the current quarterhas remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Impax Laboratories currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Impax Laboratories, Inc. Price and Consensus
Another stock worth mentioning in the Medical sectoris Anthem, Inc. (ANTM - Free Report) which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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