Seven Bridges Advisors LLC Acquires 108 Shares of Impax Laboratories Inc. (IPXL)
Seven Bridges Advisors LLC raised its position in shares of Impax Laboratories Inc. (NASDAQ:IPXL) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,190 shares of the specialty pharmaceutical company’s stock after buying an additional 108 shares during the period. Seven Bridges Advisors LLC’s holdings in Impax Laboratories were worth $928,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of 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 in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Impax Laboratories by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,721,824 shares of the specialty pharmaceutical company’s stock worth $55,133,000 after buying an additional 40,458 shares in the last quarter. GW&K Investment Management LLC increased its stake 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 in the last quarter. Norges Bank acquired a new stake in shares of Impax Laboratories during the fourth quarter worth $22,852,000. Finally, Teachers Advisors Inc. increased its stake in shares of Impax Laboratories by 10.5% in the first quarter. Teachers Advisors Inc. now owns 512,311 shares of the specialty pharmaceutical company’s stock worth $16,404,000 after buying an additional 48,500 shares in the last quarter. 88.17% of the stock is owned by institutional investors and hedge funds.
Impax Laboratories Inc. (NASDAQ:IPXL) traded up 0.11% during mid-day trading on Monday, reaching $26.18. 501,287 shares of the company traded hands. Impax Laboratories Inc. has a one year low of $20.97 and a one year high of $45.00. The stock’s 50-day moving average price is $25.22 and its 200-day moving average price is $30.48. The firm has a market cap of $1.86 billion, a PE ratio of 55.47 and a beta of 1.20.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $173 million for the quarter, compared to the consensus estimate of $223.67 million. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. Impax Laboratories’s revenue was down 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. Analysts forecast that Impax Laboratories Inc. will post $1.59 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on IPXL shares. Deutsche Bank AG lowered their price objective on shares of Impax Laboratories from $42.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. initiated coverage on shares of Impax Laboratories in a research report on Monday, June 6th. They issued a “sell” rating and a $33.00 target price for the company. Piper Jaffray Cos. restated an “overweight” rating and issued a $41.00 target price on shares of Impax Laboratories in a research report on Friday, May 27th. Leerink Swann decreased their target price on shares of Impax Laboratories from $33.00 to $24.00 and set a “market perform” rating for the company in a research report on Wednesday, August 10th. Finally, WallachBeth Capital decreased their target price on shares of Impax Laboratories from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Impax Laboratories currently 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 firm’s 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 transaction, the director now directly owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.30% of the company’s stock.
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.
Want to see what other hedge funds are holding IPXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Impax Laboratories Inc. (NASDAQ:IPXL).
Receive News & Ratings for Impax Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impax Laboratories Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.