Frontier Capital Management Co. LLC raised its position in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,620,548 shares of the specialty pharmaceutical company’s stock after buying an additional 34,720 shares during the quarter. Frontier Capital Management Co. LLC owned about 2.26% of Impax Laboratories worth $32,897,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Maverick Capital Ltd. boosted its holdings in shares of Impax Laboratories by 6,705.5% in the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock worth $115,265,000 after purchasing an additional 7,054,136 shares during the period. Fisher Asset Management LLC bought a new stake in Impax Laboratories during the 3rd quarter valued at $30,329,000. Dimensional Fund Advisors LP raised its position in Impax Laboratories by 47.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock valued at $33,359,000 after purchasing an additional 845,375 shares in the last quarter. Balyasny Asset Management LLC raised its position in Impax Laboratories by 357.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,051,484 shares of the specialty pharmaceutical company’s stock valued at $16,929,000 after purchasing an additional 821,734 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Impax Laboratories during the 2nd quarter valued at $10,285,000. Institutional investors and hedge funds own 88.32% of the company’s stock.
IPXL has been the subject of several recent research reports. Piper Jaffray Companies raised Impax Laboratories from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $9.00 to $16.00 in a research report on Tuesday, July 18th. Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Canaccord Genuity initiated coverage on Impax Laboratories in a research note on Monday, July 31st. They set a “hold” rating and a $19.00 price target on the stock. BidaskClub downgraded Impax Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Cantor Fitzgerald set a $20.00 price objective on Impax Laboratories and gave the company a “buy” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.60.
Impax Laboratories, Inc. (NASDAQ:IPXL) traded down $0.08 during midday trading on Wednesday, hitting $17.17. The company had a trading volume of 525,900 shares, compared to its average volume of 1,864,262. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81. Impax Laboratories, Inc. has a 52-week low of $7.75 and a 52-week high of $25.70. The stock has a market capitalization of $1,278.46, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.09 and a beta of 0.99.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The company had revenue of $206.40 million for the quarter, compared to analyst estimates of $208.38 million. During the same quarter in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. equities analysts forecast that Impax Laboratories, Inc. will post 0.63 EPS for the current 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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