Parametric Portfolio Associates LLC Has $3.42 Million Position in Impax Laboratories, Inc. (IPXL)

Parametric Portfolio Associates LLC increased its position in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 42.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,209 shares of the specialty pharmaceutical company’s stock after purchasing an additional 62,960 shares during the period. Parametric Portfolio Associates LLC owned 0.30% of Impax Laboratories worth $3,417,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Appleton Partners Inc. MA acquired a new position in shares of Impax Laboratories during the second quarter worth $191,000. State of Alaska Department of Revenue grew its stake in shares of Impax Laboratories by 78.7% during the second quarter. State of Alaska Department of Revenue now owns 14,548 shares of the specialty pharmaceutical company’s stock worth $234,000 after purchasing an additional 6,408 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Impax Laboratories by 1.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 16,880 shares of the specialty pharmaceutical company’s stock worth $214,000 after purchasing an additional 280 shares in the last quarter. Legato Capital Management LLC grew its stake in shares of Impax Laboratories by 891.4% during the second quarter. Legato Capital Management LLC now owns 23,426 shares of the specialty pharmaceutical company’s stock worth $377,000 after purchasing an additional 21,063 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Impax Laboratories by 56.4% during the second quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock worth $378,000 after purchasing an additional 8,469 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

A number of equities analysts recently commented on the stock. BTIG Research reiterated a “buy” rating and set a $27.00 target price (up previously from $20.00) on shares of Impax Laboratories in a research note on Saturday, September 23rd. Cantor Fitzgerald reiterated a “buy” rating and set a $25.00 target price on shares of Impax Laboratories in a research note on Monday, September 25th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Impax Laboratories in a research note on Thursday, September 28th. They set a “neutral” rating and a $20.00 target price for the company. Citigroup Inc. boosted their target price on shares of Impax Laboratories to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $23.00 target price on shares of Impax Laboratories in a research note on Tuesday, September 19th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.14.

Shares of Impax Laboratories, Inc. (NASDAQ:IPXL) opened at 18.15 on Wednesday. Impax Laboratories, Inc. has a 12 month low of $7.75 and a 12 month high of $25.70. The company has a 50-day moving average of $20.98 and a 200-day moving average of $17.75. The stock’s market capitalization is $1.30 billion.

Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $202.08 million during the quarter, compared to analyst estimates of $195.62 million. Impax Laboratories had a negative net margin of 71.08% and a positive return on equity of 9.05%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. On average, equities research analysts expect that Impax Laboratories, Inc. will post $0.70 EPS for the current fiscal year.

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

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