OppenheimerFunds Inc. Lowers Holdings in Impax Laboratories (IPXL)

OppenheimerFunds Inc. lowered its holdings in shares of Impax Laboratories (NASDAQ:IPXL) by 23.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,566 shares of the specialty pharmaceutical company’s stock after selling 6,914 shares during the quarter. OppenheimerFunds Inc.’s holdings in Impax Laboratories were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. First Mercantile Trust Co. bought a new position in Impax Laboratories during the first quarter valued at $160,000. Xact Kapitalforvaltning AB bought a new stake in shares of Impax Laboratories in the 4th quarter worth about $198,000. BlueCrest Capital Management Ltd bought a new stake in shares of Impax Laboratories in the 4th quarter worth about $336,000. Envestnet Asset Management Inc. lifted its holdings in shares of Impax Laboratories by 470.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,581 shares of the specialty pharmaceutical company’s stock worth $343,000 after acquiring an additional 16,976 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in shares of Impax Laboratories in the 1st quarter worth about $375,000. Institutional investors and hedge funds own 90.41% of the company’s stock.

Several equities research analysts have recently issued reports on IPXL shares. Canaccord Genuity set a $19.00 target price on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Thursday, March 1st. BMO Capital Markets raised their target price on shares of Impax Laboratories from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, April 16th. ValuEngine upgraded shares of Impax Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, March 16th. Finally, Cantor Fitzgerald set a $35.00 target price on shares of Impax Laboratories and gave the stock a “buy” rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Impax Laboratories currently has a consensus rating of “Hold” and a consensus price target of $22.19.

Shares of IPXL opened at $18.30 on Friday. Impax Laboratories has a 1-year low of $13.05 and a 1-year high of $25.70. The stock has a market cap of $1.35 billion, a P/E ratio of 29.05, a P/E/G ratio of 0.83 and a beta of 1.15. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.96 and a quick ratio of 1.52.

About Impax Laboratories

Impax Laboratories, Inc, a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Impax Generics and Impax Specialty Pharma. The Impax Generics segment provides generic pharmaceutical products directly to wholesalers, retail drug chains, and others; generic prescription products through third-party pharmaceutical entities pursuant to alliance agreements; generic pharmaceutical over-the-counter (OTC) and prescription products to third parties; and generic pharmaceutical OTC products through third-party pharmaceutical companies pursuant to alliance agreements.

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

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