State of Tennessee Treasury Department Trims Position in Impax Laboratories Inc (IPXL)
State of Tennessee Treasury Department lowered its stake in shares of Impax Laboratories Inc (NASDAQ:IPXL) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,501 shares of the specialty pharmaceutical company’s stock after selling 6,369 shares during the quarter. State of Tennessee Treasury Department’s holdings in Impax Laboratories were worth $974,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new stake in Impax Laboratories during the third quarter valued at about $1,692,000. Alyeska Investment Group L.P. purchased a new stake in Impax Laboratories during the third quarter valued at about $9,470,000. Janus Henderson Group PLC purchased a new stake in Impax Laboratories during the third quarter valued at about $28,573,000. Nationwide Fund Advisors lifted its holdings in Impax Laboratories by 60.1% during the third quarter. Nationwide Fund Advisors now owns 76,769 shares of the specialty pharmaceutical company’s stock valued at $1,558,000 after purchasing an additional 28,830 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Impax Laboratories during the third quarter valued at about $346,000. Institutional investors own 90.40% of the company’s stock.
IPXL has been the topic of several recent research reports. Guggenheim initiated coverage on shares of Impax Laboratories in a report on Tuesday, December 12th. They set a “neutral” rating and a $18.00 price objective on the stock. Cantor Fitzgerald set a $35.00 price objective on shares of Impax Laboratories and gave the company a “buy” rating in a report on Friday, December 15th. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the company a “hold” rating in a report on Monday, December 18th. Zacks Investment Research downgraded shares of Impax Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Leerink Swann initiated coverage on shares of Impax Laboratories in a report on Tuesday, January 2nd. They set an “outperform” rating and a $22.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Impax Laboratories has a consensus rating of “Hold” and an average price target of $20.91.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings results on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Impax Laboratories had a positive return on equity of 10.42% and a negative net margin of 60.49%. The firm had revenue of $182.90 million during the quarter, compared to analysts’ expectations of $199.13 million. During the same period in the previous year, the company posted $0.16 earnings per share. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. research analysts predict that Impax Laboratories Inc will post 1.27 EPS for the current year.
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Impax Laboratories 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.
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