Parametric Portfolio Associates LLC increased its stake in Impax Laboratories, Inc. (NASDAQ:IPXL) by 88.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,249 shares of the specialty pharmaceutical company’s stock after buying an additional 70,044 shares during the period. Parametric Portfolio Associates LLC owned about 0.21% of Impax Laboratories worth $1,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPXL. State of Alaska Department of Revenue increased its position in shares of Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock worth $102,000 after buying an additional 150 shares in the last quarter. Columbus Circle Investors acquired a new position in shares of Impax Laboratories during the first quarter worth about $532,000. Legato Capital Management LLC increased its position in shares of Impax Laboratories by 1,165.0% in the first quarter. Legato Capital Management LLC now owns 29,892 shares of the specialty pharmaceutical company’s stock worth $2,363,000 after buying an additional 27,529 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Impax Laboratories by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the specialty pharmaceutical company’s stock worth $380,000 after buying an additional 300 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Impax Laboratories by 60.4% in the first quarter. Bank of Montreal Can now owns 53,874 shares of the specialty pharmaceutical company’s stock worth $681,000 after buying an additional 20,288 shares during the last quarter. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

Impax Laboratories, Inc. (NASDAQ IPXL) remained flat at $15.10 during midday trading on Tuesday. The company’s stock had a trading volume of 3,022,930 shares. Impax Laboratories, Inc. has a 1-year low of $7.75 and a 1-year high of $31.14. The company’s market cap is $1.08 billion. The company has a 50 day moving average of $17.15 and a 200 day moving average of $14.18.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $184.40 million for the quarter, compared to analysts’ expectations of $193.17 million. Impax Laboratories had a positive return on equity of 7.71% and a negative net margin of 71.50%. The company’s revenue was down 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. On average, equities analysts expect that Impax Laboratories, Inc. will post $0.66 earnings per share for the current fiscal year.

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IPXL has been the subject of a number of research analyst reports. BidaskClub raised Impax Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, July 11th. Deutsche Bank AG set a $21.00 target price on Impax Laboratories and gave the company a “buy” rating in a research report on Monday, July 17th. Royal Bank Of Canada set a $15.00 target price on Impax Laboratories and gave the company a “hold” rating in a research report on Sunday, July 16th. Finally, BMO Capital Markets reissued a “hold” rating and set a $16.00 price objective on shares of Impax Laboratories in a report on Friday, June 23rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Impax Laboratories has a consensus rating of “Hold” and a consensus price target of $18.62.

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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