Short Interest in Impax Laboratories Inc (IPXL) Increases By 8.8%

Impax Laboratories Inc (NASDAQ:IPXL) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 12,440,931 shares, an increase of 8.8% from the January 12th total of 11,436,797 shares. Based on an average daily trading volume, of 1,023,870 shares, the short-interest ratio is currently 12.2 days. Currently, 18.0% of the company’s stock are short sold.

Shares of Impax Laboratories (NASDAQ IPXL) opened at $18.85 on Wednesday. Impax Laboratories has a 12-month low of $7.75 and a 12-month high of $25.70. The firm has a market capitalization of $1,400.00, a PE ratio of -3.02, a P/E/G ratio of 0.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81.

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its position in Impax Laboratories by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock valued at $111,000 after purchasing an additional 780 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Impax Laboratories by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 238,473 shares of the specialty pharmaceutical company’s stock worth $3,839,000 after acquiring an additional 2,463 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Impax Laboratories by 7.9% in the second quarter. Voya Investment Management LLC now owns 33,947 shares of the specialty pharmaceutical company’s stock worth $547,000 after acquiring an additional 2,499 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Impax Laboratories by 2.2% in the second quarter. California Public Employees Retirement System now owns 114,900 shares of the specialty pharmaceutical company’s stock worth $1,850,000 after acquiring an additional 2,500 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in Impax Laboratories by 5.9% in the third quarter. American International Group Inc. now owns 58,242 shares of the specialty pharmaceutical company’s stock worth $1,182,000 after acquiring an additional 3,233 shares in the last quarter. 91.46% of the stock is currently owned by institutional investors.

Several brokerages have recently commented on IPXL. Zacks Investment Research lowered Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. BidaskClub upgraded Impax Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Canaccord Genuity set a $19.00 price target on Impax Laboratories and gave the company a “hold” rating in a research note on Tuesday, October 17th. Cantor Fitzgerald set a $25.00 price target on Impax Laboratories and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Royal Bank of Canada set a $17.00 price target on Impax Laboratories and gave the company a “hold” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.62.

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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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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