State of Tennessee Treasury Department boosted its position in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 17.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,970 shares of the specialty pharmaceutical company’s stock after buying an additional 10,438 shares during the period. State of Tennessee Treasury Department owned about 0.10% of Impax Laboratories worth $872,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IPXL. State of Alaska Department of Revenue increased its stake in 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. Commerce Bank increased its stake in Impax Laboratories by 12.9% in the first quarter. Commerce Bank now owns 11,460 shares of the specialty pharmaceutical company’s stock worth $145,000 after buying an additional 1,310 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Impax Laboratories by 11.8% in the first quarter. BNP Paribas Arbitrage SA now owns 15,029 shares of the specialty pharmaceutical company’s stock worth $190,000 after buying an additional 1,588 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Impax Laboratories during the fourth quarter worth about $224,000. Finally, Karp Capital Management Corp purchased a new stake in Impax Laboratories during the first quarter worth about $366,000. Institutional investors and hedge funds own 85.12% of the company’s stock.

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

Impax Laboratories, Inc. (IPXL) opened at 13.85 on Friday. The stock’s market capitalization is $991.62 million. Impax Laboratories, Inc. has a 12-month low of $7.75 and a 12-month high of $32.52. The company has a 50-day moving average price of $15.22 and a 200-day moving average price of $13.24.

Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by $0.01. Impax Laboratories had a negative net margin of 71.50% and a positive return on equity of 7.71%. The business had revenue of $184.40 million during the quarter, compared to analyst estimates of $193.17 million. During the same period in the previous year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down 18.2% on a year-over-year basis. Analysts expect that Impax Laboratories, Inc. will post $0.65 earnings per share for the current fiscal year.

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A number of research firms have issued reports on IPXL. Royal Bank Of Canada restated a “hold” rating and set a $15.00 price target on shares of Impax Laboratories in a research note on Tuesday. Cantor Fitzgerald began coverage on Impax Laboratories in a research note on Friday. They set an “overweight” rating and a $20.00 price target for the company. Janney Montgomery Scott restated a “neutral” rating and set a $21.00 price target on shares of Impax Laboratories in a research note on Monday, June 12th. Zacks Investment Research downgraded Impax Laboratories from a “buy” rating to a “strong sell” rating in a research note on Monday, March 6th. Finally, Vetr downgraded Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 price target for the company. in a research note on Monday, April 24th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.84.

About Impax Laboratories

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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