Impax Laboratories Inc (IPXL) Stake Raised by Quantitative Investment Management LLC

Quantitative Investment Management LLC increased its position in Impax Laboratories Inc (NASDAQ:IPXL) by 12.8% during the first quarter, Holdings Channel reports. The firm owned 197,900 shares of the specialty pharmaceutical company’s stock after buying an additional 22,500 shares during the period. Quantitative Investment Management LLC’s holdings in Impax Laboratories were worth $2,503,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Capital Fund Management S.A. boosted its position in shares of Impax Laboratories by 202.9% in the third quarter. Capital Fund Management S.A. now owns 50,281 shares of the specialty pharmaceutical company’s stock worth $1,192,000 after buying an additional 33,681 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Impax Laboratories by 7.1% in the third quarter. Tocqueville Asset Management L.P. now owns 44,152 shares of the specialty pharmaceutical company’s stock worth $1,046,000 after buying an additional 2,909 shares during the period. Sector Gamma AS boosted its position in shares of Impax Laboratories by 75.2% in the third quarter. Sector Gamma AS now owns 409,964 shares of the specialty pharmaceutical company’s stock worth $7,318,000 after buying an additional 176,030 shares during the period. Rhumbline Advisers boosted its position in shares of Impax Laboratories by 6.7% in the third quarter. Rhumbline Advisers now owns 101,925 shares of the specialty pharmaceutical company’s stock worth $2,416,000 after buying an additional 6,395 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Impax Laboratories by 6.0% in the third quarter. BlackRock Group LTD now owns 103,274 shares of the specialty pharmaceutical company’s stock worth $2,448,000 after buying an additional 5,881 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Impax Laboratories (NASDAQ:IPXL)

Shares of Impax Laboratories Inc (NASDAQ:IPXL) traded down 0.32% during midday trading on Friday, reaching $15.75. The company had a trading volume of 1,281,859 shares. The stock’s market capitalization is $1.13 billion. The firm’s 50 day moving average price is $13.92 and its 200-day moving average price is $13.32. Impax Laboratories Inc has a 1-year low of $7.75 and a 1-year high of $35.24.

Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by $0.01. The firm had revenue of $184.40 million for the quarter, compared to analysts’ expectations of $193.17 million. Impax Laboratories had a positive return on equity of 11.34% and a negative net margin of 19.93%. The company’s revenue for the quarter was down 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Equities research analysts expect that Impax Laboratories Inc will post $0.65 EPS for the current fiscal year.

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A number of equities analysts have commented on IPXL shares. Piper Jaffray Companies cut Impax Laboratories from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research note on Wednesday, March 1st. Royal Bank of Canada reduced their target price on Impax Laboratories from $15.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 2nd. Zacks Investment Research cut Impax Laboratories from a “buy” rating to a “strong sell” rating in a research note on Monday, March 6th. Deutsche Bank AG raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, March 8th. Finally, Susquehanna Bancshares Inc cut Impax Laboratories from a “positive” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $10.00 in a research note on Wednesday, March 8th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.37.

Impax Laboratories Company Profile

Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

5 Day Chart for NASDAQ:IPXL

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