Impax Laboratories Inc (IPXL) Short Interest Update

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPXL. Fosun International Ltd grew its holdings in shares of Impax Laboratories by 1,185.0% in the 3rd quarter. Fosun International Ltd now owns 3,854,995 shares of the specialty pharmaceutical company’s stock valued at $78,256,000 after buying an additional 3,554,995 shares during the period. TCW Group Inc. increased its stake in shares of Impax Laboratories by 3,904.5% during the 4th quarter. TCW Group Inc. now owns 1,987,950 shares of the specialty pharmaceutical company’s stock worth $33,099,000 after purchasing an additional 1,938,307 shares during the last quarter. Fisher Asset Management LLC acquired a new position in shares of Impax Laboratories during the 3rd quarter worth about $30,329,000. Janus Henderson Group PLC acquired a new position in shares of Impax Laboratories during the 3rd quarter worth about $28,573,000. Finally, GW&K Investment Management LLC increased its stake in shares of Impax Laboratories by 147.5% during the 4th quarter. GW&K Investment Management LLC now owns 1,859,924 shares of the specialty pharmaceutical company’s stock worth $30,968,000 after purchasing an additional 1,108,348 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on IPXL. Zacks Investment Research cut shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. BidaskClub upgraded shares of Impax Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Canaccord Genuity set a $19.00 target price on shares of Impax Laboratories and gave the company a “hold” rating in a research note on Tuesday, October 17th. Cantor Fitzgerald set a $25.00 target price on shares of 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 shares of Impax Laboratories and gave the company a “hold” rating in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.62.

Impax Laboratories (NASDAQ:IPXL) traded down $0.23 on Friday, reaching $19.52. 853,558 shares of the company’s stock were exchanged, compared to its average volume of 951,964. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 1.59. Impax Laboratories has a 12-month low of $7.75 and a 12-month high of $25.70. The firm has a market cap of $1,420.00, a price-to-earnings ratio of -3.07, a PEG ratio of 0.99 and a beta of 1.11.

Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The firm had revenue of $206.40 million during the quarter, compared to analyst estimates of $208.38 million. During the same quarter in the previous year, the business earned $0.37 EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. equities analysts forecast that Impax Laboratories will post 0.64 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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