Impax Laboratories Inc (NASDAQ:IPXL) has seen an increase in activity from the world’s largest hedge funds of late.
In the financial world, there are plenty of metrics market participants can use to track publicly traded companies. A couple of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite hedge fund managers can outperform the market by a significant amount (see just how much).
Just as important, bullish insider trading sentiment is a second way to parse down the marketplace. Obviously, there are plenty of incentives for a bullish insider to downsize shares of his or her company, but just one, very clear reason why they would initiate a purchase. Many empirical studies have demonstrated the valuable potential of this method if “monkeys” understand where to look (learn more here).
With these “truths” under our belt, we’re going to take a glance at the key action surrounding Impax Laboratories Inc (NASDAQ:IPXL).
What have hedge funds been doing with Impax Laboratories Inc (NASDAQ:IPXL)?
At Q1’s end, a total of 21 of the hedge funds we track held long positions in this stock, a change of 40% from the first quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their holdings significantly.
According to our comprehensive database, Visium Asset Management, managed by Jacob Gottlieb, holds the biggest position in Impax Laboratories Inc (NASDAQ:IPXL). Visium Asset Management has a $52.5 million position in the stock, comprising 1.4% of its 13F portfolio. Sitting at the No. 2 spot is OrbiMed Advisors, managed by Samuel Isaly, which held a $50.4 million position; the fund has 1.2% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Ken Griffin’s Citadel Investment Group, Kevin Kotler’s Broadfin Capital and Sanford J. Colen’s Apex Capital.
Consequently, some big names were breaking ground themselves. Visium Asset Management, managed by Jacob Gottlieb, established the largest position in Impax Laboratories Inc (NASDAQ:IPXL). Visium Asset Management had 52.5 million invested in the company at the end of the quarter. Sanford J. Colen’s Apex Capital also initiated a $18.5 million position during the quarter. The other funds with brand new IPXL positions are Stephen DuBois’s Camber Capital Management, Jeremy Green’s Redmile Group, and SAC Subsidiary’s Sigma Capital Management.
What do corporate executives and insiders think about Impax Laboratories Inc (NASDAQ:IPXL)?
Bullish insider trading is at its handiest when the primary stock in question has seen transactions within the past 180 days. Over the latest 180-day time frame, Impax Laboratories Inc (NASDAQ:IPXL) has seen 3 unique insiders buying, and 4 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Impax Laboratories Inc (NASDAQ:IPXL). These stocks are Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), Intercept Pharmaceuticals Inc (NASDAQ:ICPT), Neurocrine Biosciences, Inc. (NASDAQ:NBIX), Pacira Pharmaceuticals Inc (NASDAQ:PCRX), and Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR). This group of stocks are in the drug manufacturers – major industry and their market caps are similar to IPXL’s market cap.