Aravt Global Lowers stake in Impax Laboratories Inc (IPXL)

Impax Laboratories Inc (IPXL) : Aravt Global reduced its stake in Impax Laboratories Inc by 27.32% during the most recent quarter end. The investment management company now holds a total of 2,232,500 shares of Impax Laboratories Inc which is valued at $48,489,900 after selling 839,378 shares in Impax Laboratories Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Impax Laboratories Inc makes up approximately 3.42% of Aravt Global’s portfolio.

Other Hedge Funds, Including , Putnam Investments boosted its stake in IPXL in the latest quarter, The investment management firm added 92,779 additional shares and now holds a total of 779,156 shares of Impax Laboratories Inc which is valued at $16,923,268. Impax Laboratories Inc makes up approx 0.04% of Putnam Investments’s portfolio.Penn Capital Management Co Inc reduced its stake in IPXL by selling 1,823 shares or 0.36% in the most recent quarter. The Hedge Fund company now holds 502,073 shares of IPXL which is valued at $10,905,026. Impax Laboratories Inc makes up approx 0.60% of Penn Capital Management Co Inc’s portfolio.Texas Permanent School Fund reduced its stake in IPXL by selling 1,143 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 53,054 shares of IPXL which is valued at $1,152,333. Impax Laboratories Inc makes up approx 0.01% of Texas Permanent School Fund’s portfolio.Asymmetry Capital Management boosted its stake in IPXL in the latest quarter, The investment management firm added 8,185 additional shares and now holds a total of 70,235 shares of Impax Laboratories Inc which is valued at $2,161,833. Impax Laboratories Inc makes up approx 3.70% of Asymmetry Capital Management’s portfolio.Louisiana State Employees Retirement System boosted its stake in IPXL in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 30,700 shares of Impax Laboratories Inc which is valued at $965,208. Impax Laboratories Inc makes up approx 0.05% of Louisiana State Employees Retirement System’s portfolio.

Impax Laboratories Inc closed down -0.25 points or -1.03% at $23.94 with 8,38,186 shares getting traded on Thursday. Post opening the session at $24.23, the shares hit an intraday low of $23.71 and an intraday high of $24.4 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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