Today, DUPONT CAPITAL MANAGEMENT Corp Buys New Stake in Impax Laboratories Inc (IPXL)

Today, DUPONT CAPITAL MANAGEMENT Corp Buys New Stake in Impax Laboratories Inc (IPXL)

DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Impax Laboratories Inc (NASDAQ:IPXL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,841 shares of the specialty pharmaceutical company’s stock, valued at approximately $447,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Seven Bridges Advisors LLC raised its stake in Impax Laboratories by 16.2% in the third quarter. Seven Bridges Advisors LLC now owns 37,409 shares of the specialty pharmaceutical company’s stock valued at $887,000 after buying an additional 5,219 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in Impax Laboratories by 7.1% in the third quarter. Tocqueville Asset Management L.P. now owns 44,152 shares of the specialty pharmaceutical company’s stock valued at $1,046,000 after buying an additional 2,909 shares during the last quarter. Wells Fargo & Company MN raised its stake in Impax Laboratories by 121.6% in the third quarter. Wells Fargo & Company MN now owns 84,455 shares of the specialty pharmaceutical company’s stock valued at $2,002,000 after buying an additional 46,336 shares during the last quarter. Capital Fund Management S.A. raised its stake in Impax Laboratories by 202.9% in the third quarter. Capital Fund Management S.A. now owns 50,281 shares of the specialty pharmaceutical company’s stock valued at $1,192,000 after buying an additional 33,681 shares during the last quarter. Finally, UMB Bank N A MO raised its stake in Impax Laboratories by 41.5% in the third quarter. UMB Bank N A MO now owns 11,600 shares of the specialty pharmaceutical company’s stock valued at $275,000 after buying an additional 3,400 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Shares of Impax Laboratories Inc (NASDAQ:IPXL) traded up 4.50% during trading on Friday, reaching $15.10. 783,561 shares of the company traded hands. The company’s market capitalization is $1.08 billion. Impax Laboratories Inc has a 1-year low of $12.45 and a 1-year high of $45.00. The stock’s 50 day moving average is $18.80 and its 200 day moving average is $26.00.

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

Several research firms have commented on IPXL. TheStreet lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, November 11th. WallachBeth Capital lowered shares of Impax Laboratories from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $18.00 in a research report on Monday, November 14th. RBC Capital Markets restated a “sector perform” rating and set a $18.00 price objective (down previously from $30.00) on shares of Impax Laboratories in a report on Thursday, November 10th. Royal Bank Of Canada cut their price objective on shares of Impax Laboratories from $30.00 to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, November 10th. Finally, Bank of America Corp. downgraded shares of Impax Laboratories from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a report on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $29.47.

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

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