Short Interest in Impax Laboratories Inc (IPXL) Grows By 20.7%
Impax Laboratories Inc (NASDAQ:IPXL) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 10,442,899 shares, a growth of 20.7% from the April 28th total of 8,651,398 shares. Approximately 14.5% of the shares of the stock are short sold. Based on an average trading volume of 2,615,696 shares, the short-interest ratio is presently 4.0 days.
Several hedge funds and other institutional investors have recently modified their holdings of IPXL. State of Alaska Department of Revenue boosted its position in shares of Impax Laboratories by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 8,140 shares of the specialty pharmaceutical company’s stock worth $102,000 after buying an additional 150 shares in the last quarter. Commerce Bank boosted its position in shares of Impax Laboratories by 12.9% in the first quarter. Commerce Bank now owns 11,460 shares of the specialty pharmaceutical company’s stock worth $145,000 after buying an additional 1,310 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Impax Laboratories by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,414 shares of the specialty pharmaceutical company’s stock worth $182,000 after buying an additional 171 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Impax Laboratories during the first quarter worth about $183,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Impax Laboratories by 11.8% in the first quarter. BNP Paribas Arbitrage SA now owns 15,029 shares of the specialty pharmaceutical company’s stock worth $190,000 after buying an additional 1,588 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Several research firms recently weighed in on IPXL. Royal Bank of Canada set a $10.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a research report on Saturday, April 8th. Deutsche Bank AG set a $15.00 price objective on shares of Impax Laboratories and gave the stock a “buy” rating in a research report on Wednesday, April 5th. Guggenheim reaffirmed a “buy” rating and set a $20.00 target price on shares of Impax Laboratories in a report on Monday, March 27th. Zacks Investment Research lowered shares of Impax Laboratories from a “buy” rating to a “strong sell” rating in a report on Monday, March 6th. Finally, Vetr lowered shares of Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 target price for the company. in a report on Monday, May 1st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $22.37.
Impax Laboratories (NASDAQ:IPXL) opened at 15.85 on Friday. Impax Laboratories has a 52 week low of $7.75 and a 52 week high of $35.24. The firm’s market capitalization is $1.13 billion. The company has a 50-day moving average of $14.39 and a 200-day moving average of $13.20.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $184.40 million for the quarter, compared to analyst estimates of $193.17 million. Impax Laboratories had a negative net margin of 19.93% and a positive return on equity of 11.34%. The firm’s quarterly revenue was down 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, equities analysts forecast that Impax Laboratories will post $0.65 earnings per share for the current fiscal year.
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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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