Comerica Bank trimmed its stake in Impax Laboratories, Inc. (NASDAQ:IPXL) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,366 shares of the specialty pharmaceutical company’s stock after selling 4,111 shares during the period. Comerica Bank owned approximately 0.11% of Impax Laboratories worth $1,451,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IPXL. Frontier Capital Management Co. LLC bought a new stake in shares of Impax Laboratories in the 1st quarter valued at approximately $14,012,000. North Tide Capital LLC lifted its stake in shares of Impax Laboratories by 50.0% in the 1st quarter. North Tide Capital LLC now owns 3,000,000 shares of the specialty pharmaceutical company’s stock valued at $37,950,000 after purchasing an additional 1,000,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 valued at $33,359,000 after purchasing an additional 845,375 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Impax Laboratories by 88.4% in the 1st quarter. Point72 Asset Management L.P. now owns 1,095,600 shares of the specialty pharmaceutical company’s stock valued at $13,859,000 after purchasing an additional 514,200 shares during the last quarter. Finally, Fosun International Ltd bought a new stake in shares of Impax Laboratories in the 1st quarter valued at approximately $3,795,000. 86.26% of the stock is owned by institutional investors and hedge funds.

Shares of Impax Laboratories, Inc. (NASDAQ IPXL) opened at 22.15 on Thursday. The company’s 50 day moving average price is $18.88 and its 200-day moving average price is $15.26. Impax Laboratories, Inc. has a 52 week low of $7.75 and a 52 week high of $27.29. The company’s market capitalization is $1.59 billion.

Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $195.62 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. Analysts anticipate that Impax Laboratories, Inc. will post $0.70 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on IPXL shares. Zacks Investment Research raised Impax Laboratories from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, July 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Impax Laboratories in a research note on Friday, June 23rd. Cantor Fitzgerald started coverage on Impax Laboratories in a research note on Friday, June 16th. They issued an “overweight” rating and a $20.00 price objective for the company. Deutsche Bank AG set a $21.00 price objective on Impax Laboratories and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, BidaskClub raised Impax Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.16.

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

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