Impax Laboratories, Inc. (IPXL) Holdings Lifted by Maverick Capital Ltd.
Maverick Capital Ltd. boosted its holdings in Impax Laboratories, Inc. (NASDAQ:IPXL) by 6,705.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,159,336 shares of the specialty pharmaceutical company’s stock after buying an additional 7,054,136 shares during the period. Impax Laboratories makes up about 1.4% of Maverick Capital Ltd.’s investment portfolio, making the stock its 25th largest position. Maverick Capital Ltd. owned about 9.63% of Impax Laboratories worth $115,265,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nexthera Capital LP bought a new position in Impax Laboratories in the 2nd quarter worth approximately $9,022,000. Graham Capital Management L.P. bought a new position in Impax Laboratories in the 2nd quarter worth approximately $390,000. Balyasny Asset Management LLC increased its position in Impax Laboratories by 357.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,051,484 shares of the specialty pharmaceutical company’s stock worth $16,929,000 after buying an additional 821,734 shares during the period. Stifel Financial Corp bought a new position in Impax Laboratories in the 2nd quarter worth approximately $10,285,000. Finally, Voya Investment Management LLC increased its position in Impax Laboratories by 7.9% in the 2nd quarter. Voya Investment Management LLC now owns 33,947 shares of the specialty pharmaceutical company’s stock worth $547,000 after buying an additional 2,499 shares during the period. 86.26% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Cantor Fitzgerald set a $20.00 price target on Impax Laboratories and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Citigroup Inc. lifted their price target on Impax Laboratories to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Deutsche Bank AG set a $21.00 price target on Impax Laboratories and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Impax Laboratories has an average rating of “Hold” and a consensus price target of $18.70.
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Impax Laboratories, Inc. (NASDAQ:IPXL) traded down 0.23% during trading on Thursday, reaching $21.40. The company’s stock had a trading volume of 366,531 shares. The company’s 50 day moving average price is $20.67 and its 200-day moving average price is $16.61. Impax Laboratories, Inc. has a 1-year low of $7.75 and a 1-year high of $25.70. The stock’s market cap is $1.54 billion.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Impax Laboratories had a positive return on equity of 9.05% and a negative net margin of 71.08%. The company had revenue of $202.08 million for the quarter, compared to the consensus estimate of $195.62 million. During the same quarter last year, the business posted $0.21 EPS. Impax Laboratories’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities analysts forecast that Impax Laboratories, Inc. will post $0.70 earnings per share for the current fiscal year.
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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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