Trexquant Investment LP Lowers Position in Impax Laboratories, Inc. (NASDAQ:IPXL)
Trexquant Investment LP reduced its stake in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 21.6% during the second quarter, Holdings Channel reports. The fund owned 49,425 shares of the specialty pharmaceutical company’s stock after selling 13,651 shares during the period. Trexquant Investment LP’s holdings in Impax Laboratories were worth $796,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Impax Laboratories by 11.8% in the first quarter. BNP Paribas Arbitrage SA now owns 15,029 shares of the specialty pharmaceutical company’s stock valued at $190,000 after buying an additional 1,588 shares during the last quarter. American Century Companies Inc. bought a new stake in Impax Laboratories during the first quarter valued at $1,195,000. Great West Life Assurance Co. Can boosted its stake in Impax Laboratories by 7.6% in the first quarter. Great West Life Assurance Co. Can now owns 103,506 shares of the specialty pharmaceutical company’s stock valued at $1,304,000 after buying an additional 7,298 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Impax Laboratories by 7.8% in the first quarter. Canada Pension Plan Investment Board now owns 481,200 shares of the specialty pharmaceutical company’s stock valued at $6,087,000 after buying an additional 34,700 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp boosted its stake in Impax Laboratories by 526.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 118,063 shares of the specialty pharmaceutical company’s stock valued at $1,493,000 after buying an additional 99,222 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.
Shares of Impax Laboratories, Inc. (IPXL) opened at 18.20 on Friday. Impax Laboratories, Inc. has a one year low of $7.75 and a one year high of $27.29. The firm’s market cap is $1.30 billion. The company has a 50 day moving average of $17.28 and a 200-day moving average of $14.30.
Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The business had revenue of $202.08 million during the quarter, compared to analysts’ expectations of $195.62 million. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, analysts expect that Impax Laboratories, Inc. will post $0.66 EPS for the current year.
Several equities research analysts recently weighed in on the stock. Canaccord Genuity assumed coverage on shares of Impax Laboratories in a research note on Monday, July 31st. They issued a “hold” rating and a $19.00 target price for the company. Zacks Investment Research lowered shares of Impax Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Deutsche Bank AG set a $21.00 price target on shares of Impax Laboratories and gave the stock a “buy” rating in a research report on Monday, July 17th. Piper Jaffray Companies raised shares of Impax Laboratories from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $9.00 to $16.00 in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price target (up previously from $10.00) on shares of Impax Laboratories in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.56.
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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