Profund Advisors LLC trimmed its position in Impax Laboratories, Inc. (NASDAQ:IPXL) by 23.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,715 shares of the specialty pharmaceutical company’s stock after selling 4,499 shares during the period. Profund Advisors LLC’s holdings in Impax Laboratories were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC boosted its holdings in Impax Laboratories by 1.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 238,473 shares of the specialty pharmaceutical company’s stock worth $3,839,000 after buying an additional 2,463 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Impax Laboratories by 7.5% in the 2nd quarter. Teachers Advisors LLC now owns 131,944 shares of the specialty pharmaceutical company’s stock worth $2,124,000 after buying an additional 9,159 shares during the last quarter. Swiss National Bank boosted its holdings in Impax Laboratories by 15.3% in the 2nd quarter. Swiss National Bank now owns 116,900 shares of the specialty pharmaceutical company’s stock worth $1,882,000 after buying an additional 15,500 shares during the last quarter. Scout Investments Inc. boosted its holdings in Impax Laboratories by 4.0% in the 2nd quarter. Scout Investments Inc. now owns 95,275 shares of the specialty pharmaceutical company’s stock worth $1,534,000 after buying an additional 3,675 shares during the last quarter. Finally, Bridge City Capital LLC acquired a new stake in Impax Laboratories in the 2nd quarter worth about $760,000. Institutional investors own 86.26% of the company’s stock.

Several equities research analysts recently issued reports on the company. Canaccord Genuity set a $19.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald set a $20.00 price objective on Impax Laboratories and gave the stock a “buy” rating in a report on Wednesday, August 9th. Citigroup Inc. boosted their target price on Impax Laboratories to $23.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Deutsche Bank AG set a $21.00 target price on Impax Laboratories and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Zacks Investment Research cut Impax Laboratories from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Impax Laboratories presently has an average rating of “Hold” and a consensus price target of $18.70.

ILLEGAL ACTIVITY NOTICE: “Impax Laboratories, Inc. (IPXL) Shares Sold by Profund Advisors LLC” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/10/13/impax-laboratories-inc-ipxl-shares-sold-by-profund-advisors-llc.html.

Impax Laboratories (NASDAQ:IPXL) last released its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The firm had revenue of $202.08 million for the quarter, compared to the consensus estimate of $195.62 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis.

Impax Laboratories 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)

Receive News & Stock Ratings for Impax Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impax Laboratories Inc. and related stocks with our FREE daily email newsletter.