Legato Capital Management LLC Has $377,000 Position in Impax Laboratories, Inc. (IPXL)
Legato Capital Management LLC increased its stake in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 891.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,426 shares of the specialty pharmaceutical company’s stock after buying an additional 21,063 shares during the period. Legato Capital Management LLC’s holdings in Impax Laboratories were worth $377,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Impax Laboratories by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock valued at $79,080,000 after buying an additional 276,765 shares in the last quarter. North Tide Capital LLC increased its stake in shares of Impax Laboratories by 50.0% in the first quarter. North Tide Capital LLC now owns 3,000,000 shares of the specialty pharmaceutical company’s stock valued at $37,950,000 after buying an additional 1,000,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Impax Laboratories by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock valued at $33,359,000 after buying an additional 845,375 shares in the last quarter. Norges Bank acquired a new stake in shares of Impax Laboratories during the fourth quarter valued at about $16,669,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Impax Laboratories during the first quarter valued at about $14,012,000. 83.84% of the stock is owned by institutional investors and hedge funds.
Shares of Impax Laboratories, Inc. (NASDAQ IPXL) opened at 18.15 on Monday. The stock’s 50 day moving average price is $16.20 and its 200-day moving average price is $13.78. Impax Laboratories, Inc. has a 1-year low of $7.75 and a 1-year high of $31.85. The stock’s market capitalization is $1.30 billion.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $184.40 million during the quarter, compared to the consensus estimate of $193.17 million. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The business’s revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Equities research analysts anticipate that Impax Laboratories, Inc. will post $0.66 EPS for the current fiscal year.
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IPXL has been the subject of several research analyst reports. Vetr downgraded Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 price objective for the company. in a research note on Monday, April 24th. Zacks Investment Research raised Impax Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. BMO Capital Markets reissued a “hold” rating and issued a $16.00 price objective on shares of Impax Laboratories in a research note on Friday, June 23rd. Deutsche Bank AG set a $21.00 price objective on Impax Laboratories and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of Impax Laboratories in a research note on Sunday, April 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.60.
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.
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