BlackRock Group LTD Has $2,448,000 Position in Impax Laboratories, Inc. (IPXL)

BlackRock Group LTD Has $2,448,000 Position in Impax Laboratories, Inc. (IPXL)

BlackRock Group LTD boosted its stake in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 6.0% during the third quarter, Holdings Channel reports. The institutional investor owned 103,274 shares of the specialty pharmaceutical company’s stock after buying an additional 5,881 shares during the period. BlackRock Group LTD owned 0.14% of Impax Laboratories worth $2,448,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Walleye Trading LLC boosted its position in Impax Laboratories by 66.1% in the second quarter. Walleye Trading LLC now owns 3,883 shares of the specialty pharmaceutical company’s stock valued at $112,000 after buying an additional 1,545 shares in the last quarter. Rational Advisors LLC purchased a new position in Impax Laboratories during the second quarter valued at $112,000. Nisa Investment Advisors LLC boosted its position in Impax Laboratories by 625.0% in the third quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the specialty pharmaceutical company’s stock valued at $137,000 after buying an additional 5,000 shares in the last quarter. KBC Group NV boosted its position in Impax Laboratories by 477.1% in the third quarter. KBC Group NV now owns 5,938 shares of the specialty pharmaceutical company’s stock valued at $141,000 after buying an additional 4,909 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Impax Laboratories during the second quarter valued at $175,000. 84.06% of the stock is owned by institutional investors and hedge funds.

Shares of Impax Laboratories, Inc. (NASDAQ:IPXL) traded down 0.41% on Friday, reaching $12.15. The company’s stock had a trading volume of 782,936 shares. The stock’s market cap is $866.66 million. The firm’s 50-day moving average price is $12.98 and its 200-day moving average price is $20.51. Impax Laboratories, Inc. has a 12 month low of $11.75 and a 12 month high of $38.43.

Impax Laboratories (NASDAQ:IPXL) last posted its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by $0.02. The firm had revenue of $228 million for the quarter, compared to the consensus estimate of $234.87 million. Impax Laboratories had a positive return on equity of 11.34% and a negative net margin of 19.93%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. On average, analysts forecast that Impax Laboratories, Inc. will post $1.16 earnings per share for the current fiscal year.

IPXL has been the subject of a number of research analyst reports. RBC Capital Markets reaffirmed a “hold” rating and set a $15.00 price objective on shares of Impax Laboratories in a research report on Tuesday, January 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $17.00 price objective on shares of Impax Laboratories in a research report on Friday, December 23rd. Janney Montgomery Scott initiated coverage on shares of Impax Laboratories in a research report on Wednesday, December 28th. They set a “neutral” rating and a $15.00 price objective for the company. Bank of America Corporation cut shares of Impax Laboratories from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Monday, November 7th. Finally, Zacks Investment Research raised shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, January 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Impax Laboratories has a consensus rating of “Hold” and an average target price of $25.60.

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), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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