Frontier Capital Management Co. LLC Trims Holdings in Impax Laboratories Inc (IPXL)

Frontier Capital Management Co. LLC lowered its position in Impax Laboratories Inc (NASDAQ:IPXL) by 9.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,464,248 shares of the specialty pharmaceutical company’s stock after selling 156,300 shares during the quarter. Frontier Capital Management Co. LLC owned 1.98% of Impax Laboratories worth $24,380,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Maverick Capital Ltd. lifted its position in shares of Impax Laboratories by 6,705.5% during the 2nd quarter. Maverick Capital Ltd. now owns 7,159,336 shares of the specialty pharmaceutical company’s stock worth $115,265,000 after buying an additional 7,054,136 shares during the period. Vanguard Group Inc. lifted its position in shares of Impax Laboratories by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,118 shares of the specialty pharmaceutical company’s stock worth $109,820,000 after buying an additional 569,723 shares during the period. Fosun International Ltd lifted its position in shares of Impax Laboratories by 1,185.0% during the 3rd quarter. Fosun International Ltd now owns 3,854,995 shares of the specialty pharmaceutical company’s stock worth $78,256,000 after buying an additional 3,554,995 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Impax Laboratories by 23.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,244,580 shares of the specialty pharmaceutical company’s stock worth $52,238,000 after buying an additional 607,503 shares during the period. Finally, Fisher Asset Management LLC bought a new position in shares of Impax Laboratories during the 3rd quarter worth approximately $30,329,000. Institutional investors own 90.48% of the company’s stock.

Several equities analysts recently commented on IPXL shares. Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Cantor Fitzgerald set a $35.00 target price on Impax Laboratories and gave the stock a “buy” rating in a research report on Friday, December 15th. Cowen restated a “hold” rating and set a $16.00 target price on shares of Impax Laboratories in a research report on Friday, November 10th. Royal Bank of Canada set a $17.00 target price on Impax Laboratories and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Finally, UBS Group raised their target price on Impax Laboratories from $12.00 to $16.00 and gave the stock a “sell” rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.62.

Shares of Impax Laboratories Inc (IPXL) opened at $20.15 on Monday. The company has a market capitalization of $1,490.00, a price-to-earnings ratio of -3.22, a PEG ratio of 1.06 and a beta of 0.94. Impax Laboratories Inc has a 52 week low of $7.75 and a 52 week high of $25.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32.

Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $206.40 million during the quarter, compared to analysts’ expectations of $208.38 million. Impax Laboratories had a negative return on equity of 39.31% and a negative net margin of 23.92%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. sell-side analysts predict that Impax Laboratories Inc will post 0.64 earnings per share for the current fiscal year.

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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.

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

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