Emerald Acquisition Ltd. Acquires Shares of 133,334 Impax Laboratories Inc. (IPXL)
Emerald Acquisition Ltd. acquired a new position in shares of Impax Laboratories Inc. (NASDAQ:IPXL) during the second quarter, according to its most recent filing with the SEC. The firm acquired 133,334 shares of the specialty pharmaceutical company’s stock, valued at approximately $3,842,000. Emerald Acquisition Ltd. owned approximately 0.19% of Impax Laboratories as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in IPXL. BlackRock Inc. increased its stake in shares of Impax Laboratories by 128.2% in the first quarter. BlackRock Inc. now owns 4,834 shares of the specialty pharmaceutical company’s stock worth $154,000 after buying an additional 2,716 shares during the last quarter. Foundry Partners LLC increased its stake in Impax Laboratories by 29.4% in the second quarter. Foundry Partners LLC now owns 10,260 shares of the specialty pharmaceutical company’s stock worth $296,000 after buying an additional 2,330 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Impax Laboratories during the first quarter worth about $307,000. Boston Advisors LLC increased its stake in Impax Laboratories by 1.1% in the second quarter. Boston Advisors LLC now owns 11,785 shares of the specialty pharmaceutical company’s stock worth $340,000 after buying an additional 125 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in Impax Laboratories during the first quarter worth about $377,000. Hedge funds and other institutional investors own 88.17% of the company’s stock.
Shares of Impax Laboratories Inc. (NASDAQ:IPXL) traded up 1.19% during trading on Wednesday, hitting $26.45. 861,607 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.88 billion, a PE ratio of 56.04 and a beta of 1.20. The stock’s 50 day moving average is $25.07 and its 200 day moving average is $30.42. Impax Laboratories Inc. has a 1-year low of $20.97 and a 1-year high of $45.00.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.11. The company earned $173 million during the quarter, compared to analyst estimates of $223.67 million. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The company’s revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that Impax Laboratories Inc. will post $1.59 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Impax Laboratories in a research report on Wednesday, June 1st. They set a “neutral” rating and a $47.00 price target for the company. Zacks Investment Research upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, July 12th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $41.00 price target on shares of Impax Laboratories in a research report on Friday, May 27th. Goldman Sachs Group Inc. assumed coverage on shares of Impax Laboratories in a research report on Monday, June 6th. They set a “sell” rating and a $33.00 price target for the company. Finally, Leerink Swann reiterated a “market perform” rating and set a $33.00 price target (up from $31.00) on shares of Impax Laboratories in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $33.93.
In other news, Director Leslie Z. Benet sold 10,092 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $22.81, for a total value of $230,198.52. Following the completion of the sale, the director now directly owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by insiders.
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), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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