RMB Capital Management LLC cut its holdings in Impax Laboratories (NASDAQ:IPXL) by 18.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 103,631 shares of the specialty pharmaceutical company’s stock after selling 24,099 shares during the period. RMB Capital Management LLC owned 0.14% of Impax Laboratories worth $2,016,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of IPXL. First Mercantile Trust Co. purchased a new stake in Impax Laboratories during the 1st quarter worth $160,000. Xact Kapitalforvaltning AB bought a new position in shares of Impax Laboratories during the fourth quarter worth about $198,000. BlueCrest Capital Management Ltd bought a new position in shares of Impax Laboratories during the fourth quarter worth about $336,000. Envestnet Asset Management Inc. lifted its position in shares of Impax Laboratories by 470.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,581 shares of the specialty pharmaceutical company’s stock worth $343,000 after purchasing an additional 16,976 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in shares of Impax Laboratories during the first quarter worth about $375,000. Institutional investors own 90.41% of the company’s stock.
IPXL has been the topic of several research reports. Zacks Investment Research upgraded shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Friday, March 16th. ValuEngine lowered shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. BMO Capital Markets raised their price target on shares of Impax Laboratories from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, April 16th. BidaskClub upgraded shares of Impax Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Canaccord Genuity set a $19.00 target price on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.19.
Impax Laboratories Profile
Impax Laboratories, Inc, a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Impax Generics and Impax Specialty Pharma. The Impax Generics segment provides generic pharmaceutical products directly to wholesalers, retail drug chains, and others; generic prescription products through third-party pharmaceutical entities pursuant to alliance agreements; generic pharmaceutical over-the-counter (OTC) and prescription products to third parties; and generic pharmaceutical OTC products through third-party pharmaceutical companies pursuant to alliance agreements.
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