Capital Fund Management S.A. Acquires Shares of 16,600 Impax Laboratories Inc. (IPXL)
Capital Fund Management S.A. bought a new position in Impax Laboratories Inc. (NASDAQ:IPXL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,600 shares of the specialty pharmaceutical company’s stock, valued at approximately $478,000.
Other institutional investors have also recently made changes to their positions in the company. GW&K Investment Management LLC raised its position in shares of Impax Laboratories by 18.5% in the second quarter. GW&K Investment Management LLC now owns 917,323 shares of the specialty pharmaceutical company’s stock worth $26,437,000 after buying an additional 143,350 shares during the period. BlackRock Fund Advisors raised its position in Impax Laboratories by 2.3% in the first quarter. BlackRock Fund Advisors now owns 5,612,082 shares of the specialty pharmaceutical company’s stock worth $179,699,000 after buying an additional 128,019 shares during the period. Acadian Asset Management LLC raised its position in Impax Laboratories by 123,459.0% in the second quarter. Acadian Asset Management LLC now owns 123,559 shares of the specialty pharmaceutical company’s stock worth $3,561,000 after buying an additional 123,459 shares during the period. Bellevue Group AG bought a new position in Impax Laboratories during the first quarter worth approximately $3,458,000. Finally, Goldman Sachs Group Inc. raised its position in Impax Laboratories by 94.7% in the first quarter. Goldman Sachs Group Inc. now owns 211,817 shares of the specialty pharmaceutical company’s stock worth $6,782,000 after buying an additional 103,030 shares during the period. Institutional investors own 88.17% of the company’s stock.
Shares of Impax Laboratories Inc. (NASDAQ:IPXL) traded up 0.45% on Thursday, reaching $22.48. The company had a trading volume of 445,860 shares. The company has a market capitalization of $1.60 billion, a PE ratio of 47.63 and a beta of 1.21. Impax Laboratories Inc. has a one year low of $20.97 and a one year high of $45.00. The company’s 50-day moving average is $24.59 and its 200-day moving average is $29.45.
Impax Laboratories (NASDAQ:IPXL) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.11. The firm had revenue of $173 million for the quarter, compared to analysts’ expectations of $223.67 million. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Equities research analysts predict that Impax Laboratories Inc. will post $1.59 earnings per share for the current year.
IPXL has been the topic of a number of recent research reports. Northland Securities upgraded Impax Laboratories from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, August 15th. Leerink Swann lowered their price objective on Impax Laboratories from $33.00 to $24.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 10th. Piper Jaffray Cos. restated an “overweight” rating and set a $32.00 price objective (down previously from $40.00) on shares of Impax Laboratories in a research note on Saturday, August 13th. BMO Capital Markets initiated coverage on Impax Laboratories in a research note on Tuesday, June 28th. They set a “market perform” rating and a $30.00 price objective on the stock. Finally, Goldman Sachs Group Inc. upgraded Impax Laboratories from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $25.00 to $26.00 in a research note on Tuesday, September 27th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $33.43.
In other news, Director Leslie Z. Benet sold 10,092 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $22.81, for a total transaction of $230,198.52. Following the completion of the sale, the director now directly owns 40,225 shares in the company, valued at $917,532.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.
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), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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