California State Teachers Retirement System lowered its position in shares of Impax Laboratories Inc (NASDAQ:IPXL) by 9.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 117,520 shares of the specialty pharmaceutical company’s stock after selling 12,512 shares during the quarter. California State Teachers Retirement System’s holdings in Impax Laboratories were worth $2,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of IPXL. Public Employees Retirement System of Ohio lifted its position in shares of Impax Laboratories by 12.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock worth $111,000 after buying an additional 780 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Impax Laboratories in the 3rd quarter worth approximately $201,000. Stevens Capital Management LP bought a new stake in shares of Impax Laboratories in the 3rd quarter worth approximately $203,000. Quantbot Technologies LP raised its holdings in shares of Impax Laboratories by 279.0% in the 3rd quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after purchasing an additional 7,384 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Impax Laboratories in the 2nd quarter worth approximately $207,000. 90.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Impax Laboratories Inc (NASDAQ:IPXL) opened at $19.10 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.32 and a debt-to-equity ratio of 1.59. Impax Laboratories Inc has a 1-year low of $7.75 and a 1-year high of $25.70. The stock has a market cap of $1,415.58, a price-to-earnings ratio of -3.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94.

Impax Laboratories (NASDAQ:IPXL) last issued its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $206.40 million for the quarter, compared to analysts’ expectations of $208.38 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. equities research analysts forecast that Impax Laboratories Inc will post 0.64 earnings per share for the current fiscal year.

A number of research firms recently commented on IPXL. Guggenheim began coverage on shares of Impax Laboratories in a report on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price target on the stock. Canaccord Genuity set a $19.00 price target on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Monday, December 18th. BidaskClub raised shares of Impax Laboratories from a “strong sell” rating to a “sell” rating in a report on Saturday. Cantor Fitzgerald lifted their price target on shares of Impax Laboratories from $25.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, Leerink Swann began coverage on shares of Impax Laboratories in a report on Tuesday, January 2nd. They issued an “outperform” rating and a $22.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.62.

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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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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Institutional Ownership by Quarter for Impax Laboratories (NASDAQ:IPXL)

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