Quick Win by the Algorithm

On March 24, 2017,  the I Know First algorithm had predicted a bullish forecast for Impax Laboratories, Inc. (IPXL). It had a signal of 1.99 and a predictability of 0.17. The company reported gains of 38.04% in just 3 days and therefore, a quick win by the algorithm

Impax Laboratories, Inc. (IPXL), a pharmaceutical company headquartered in Hayward, California.  IPXL manufactures and markets pharmaceutical products. The company consists of 2 segments.  Impax Generics focuses on generic perscription products.  Impax Specialty Pharma overseas the development, sales, distribution, and distribution of pharmaceutical products to treat Parkinson’s disease, central nervous systems disorders, and others.

Shares soared after IPXL announced its new president and CEO, Paul M. Bisaro. He is an industry veteran and former executive chairman of Allergan (AGN). With a proven track record in the generic-drug industry, Bisaro seems a great candidate. Impax has struggled with increased competition as well as impairment charges, from acquisitions that haven’t panned out as planned.

Despite the decline, IPXL managed to turn a profit in 2016, with an adjusted $1.16 per share. Additionally, there is promise for a number of generic drugs they’re working on to reach market and help ease pressure.

Investor confidence remains high after the reported hiring of strategic specialists Morgan Stanley. With the companies direction still unclear, a sale of the company becomes a viable future outcome.

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.