Krensavage Asset Management buys $15,873,345 stake in Impax Laboratories Inc (IPXL)

Impax Laboratories Inc (IPXL) : Krensavage Asset Management scooped up 142,935 additional shares in Impax Laboratories Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 730,817 shares of Impax Laboratories Inc which is valued at $15,873,345.Impax Laboratories Inc makes up approximately 5.49% of Krensavage Asset Management’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in IPXL by selling 305,353 shares or 53.78% in the most recent quarter. The Hedge Fund company now holds 262,432 shares of IPXL which is valued at $5,700,023. Impax Laboratories Inc makes up approx 0.01% of Citadel Advisors’s portfolio.New York State Common Retirement Fund reduced its stake in IPXL by selling 9,987 shares or 5.19% in the most recent quarter. The Hedge Fund company now holds 182,417 shares of IPXL which is valued at $3,962,097. Impax Laboratories Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Great West Life Assurance Co Can boosted its stake in IPXL in the latest quarter, The investment management firm added 82,853 additional shares and now holds a total of 90,789 shares of Impax Laboratories Inc which is valued at $2,870,748. Impax Laboratories Inc makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.Royal London Asset Management Ltd reduced its stake in IPXL by selling 13,877 shares or 18.41% in the most recent quarter. The Hedge Fund company now holds 61,506 shares of IPXL which is valued at $1,944,820. Impax Laboratories Inc makes up approx 0.03% of Royal London Asset Management Ltd’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in IPXL by selling 25,559 shares or 5.45% in the most recent quarter. The Hedge Fund company now holds 443,691 shares of IPXL which is valued at $13,940,771. Impax Laboratories Inc makes up approx 0.25% of Kornitzer Capital Management Inc Ks’s portfolio.

Impax Laboratories Inc (IPXL) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $23.92 and reached the intraday high at $24.21. The bulls started the profit booking and pushed the shares to intraday low of $23.46. The trading session was marked by a volume range of 10,28,812 shares exchanging hands. The 52-week high of the shares is $46.1 and the 52-week low is $20.97. The market cap of the company stands at $1,768 M and there are 7,38,59,323 shares in public circulation.

On the company’s financial health, Impax Laboratories Inc reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.32. The company had revenue of $172.60 million for the quarter, compared to analysts expectations of $223.67 million. The company’s revenue was down -19.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Impax Laboratories Inc. Impax Laboratories Inc was Upgraded by Northland Capital to ” Outperform” on Aug 15, 2016. Shares were Reiterated by WallachBeth on Aug 10, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $40 .Shares were Reiterated by Leerink Partners on Aug 10, 2016 to “Mkt Perform” and Lowered the Price Target to $ 24 from a previous price target of $33 .

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. The Company operates in two segments: Impax Generics and Impax Specialty Pharma. The Impax Generics is focused on the development manufacture sale and distribution of the Company’s generic products which are the pharmaceutical and therapeutic equivalents of brand-name drug products and are marketed under their established drug names. The Impax Specialty Pharma is engaged in the development of brand pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Impax Specialty Pharma is also engaged in the sale and distribution of Zomig (zolmitriptan) products indicated for the treatment of migraine headaches.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *