Fmr LLC Boosts Position in Impax Laboratories, Inc. (NASDAQ:IPXL)

FMR LLC boosted its stake in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 498,500 shares of the specialty pharmaceutical company’s stock after buying an additional 95,432 shares during the period. FMR LLC owned 0.70% of Impax Laboratories worth $6,306,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock valued at $102,000 after buying an additional 150 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Impax Laboratories by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock valued at $214,000 after buying an additional 280 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock valued at $380,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System increased its stake in Impax Laboratories by 0.8% in the first quarter. Arizona State Retirement System now owns 38,376 shares of the specialty pharmaceutical company’s stock valued at $485,000 after buying an additional 300 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in Impax Laboratories by 6.8% in the first quarter. Mason Street Advisors LLC now owns 17,245 shares of the specialty pharmaceutical company’s stock valued at $218,000 after buying an additional 1,101 shares in the last quarter. 83.57% of the stock is currently owned by hedge funds and other institutional investors.

Impax Laboratories, Inc. (IPXL) traded up 2.46% during trading on Wednesday, reaching $18.75. The company had a trading volume of 276,500 shares. Impax Laboratories, Inc. has a one year low of $7.75 and a one year high of $27.29. The company has a 50-day moving average price of $17.41 and a 200 day moving average price of $14.46. The company’s market capitalization is $1.35 billion.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The firm had revenue of $202.08 million during the quarter, compared to analyst estimates of $195.62 million. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Analysts expect that Impax Laboratories, Inc. will post $0.70 earnings per share for the current year.

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Several analysts have issued reports on the company. BidaskClub downgraded Impax Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the company a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company set a $20.00 price target on Impax Laboratories and gave the company a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $10.00) on shares of Impax Laboratories in a research report on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.85.

About Impax Laboratories

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.

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

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