Sector Gamma AS Lowers Holdings in Impax Laboratories, Inc. (IPXL)

Sector Gamma AS trimmed its position in Impax Laboratories, Inc. (NASDAQ:IPXL) by 28.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 422,261 shares of the specialty pharmaceutical company’s stock after selling 167,050 shares during the quarter. Impax Laboratories accounts for 1.3% of Sector Gamma AS’s holdings, making the stock its 22nd largest holding. Sector Gamma AS owned about 0.57% of Impax Laboratories worth $8,572,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of IPXL. FMR LLC lifted its holdings in shares of Impax Laboratories by 23.7% in the 1st quarter. FMR LLC now owns 498,500 shares of the specialty pharmaceutical company’s stock worth $6,306,000 after buying an additional 95,432 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Impax Laboratories by 1.7% in the 1st quarter. Teachers Advisors LLC now owns 122,785 shares of the specialty pharmaceutical company’s stock worth $1,553,000 after buying an additional 2,073 shares during the period. Legal & General Group Plc lifted its holdings in shares of Impax Laboratories by 0.5% in the 1st quarter. Legal & General Group Plc now owns 131,834 shares of the specialty pharmaceutical company’s stock worth $1,668,000 after buying an additional 610 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Impax Laboratories by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock worth $79,080,000 after buying an additional 276,765 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Impax Laboratories by 47.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock worth $33,359,000 after buying an additional 845,375 shares during the period. Institutional investors and hedge funds own 88.32% of the company’s stock.

A number of brokerages recently weighed in on IPXL. Cowen and Company restated a “hold” rating and set a $16.00 price objective on shares of Impax Laboratories in a research note on Friday, November 10th. Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada set a $17.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research note on Thursday, August 10th. Piper Jaffray Companies set a $17.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research note on Thursday, August 10th. Finally, Cantor Fitzgerald upped their price objective on Impax Laboratories from $25.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. 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 company’s stock. The company has an average rating of “Hold” and an average price target of $19.60.

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Impax Laboratories, Inc. (NASDAQ:IPXL) traded down $0.08 during midday trading on Wednesday, hitting $17.17. The stock had a trading volume of 525,900 shares, compared to its average volume of 1,864,262. The stock has a market capitalization of $1,278.46, a P/E ratio of 25.37, a PEG ratio of 1.09 and a beta of 0.99. Impax Laboratories, Inc. has a 1-year low of $7.75 and a 1-year high of $25.70. 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 (NASDAQ:IPXL) last released its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, beating the 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 business had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. During the same quarter last year, the business posted $0.37 earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. research analysts forecast that Impax Laboratories, Inc. will post 0.63 EPS 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.

Institutional Ownership by Quarter for Impax Laboratories (NASDAQ:IPXL)

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