Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) Stake Boosted by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC increased its stake in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 54.5% during the second quarter, Holdings Channel reports. The institutional investor owned 201,904 shares of the specialty pharmaceutical company’s stock after buying an additional 71,185 shares during the period. Rice Hall James & Associates LLC’s holdings in Eagle Pharmaceuticals were worth $15,928,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Eagle Pharmaceuticals by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock valued at $125,000 after buying an additional 702 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock valued at $128,000 after buying an additional 202 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Eagle Pharmaceuticals by 6.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock valued at $151,000 after buying an additional 120 shares during the last quarter. Mason Street Advisors LLC increased its stake in Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock valued at $157,000 after buying an additional 175 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Eagle Pharmaceuticals by 323.9% in the second quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock valued at $197,000 after buying an additional 1,908 shares during the last quarter.

Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) opened at 55.64 on Friday. The company has a market capitalization of $844.00 million, a P/E ratio of 9.34 and a beta of 1.31. Eagle Pharmaceuticals, Inc. has a 1-year low of $45.05 and a 1-year high of $97.15. The firm’s 50 day moving average price is $67.41 and its 200-day moving average price is $76.03.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.18. The firm had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Analysts expect that Eagle Pharmaceuticals, Inc. will post $3.38 EPS for the current year.

Eagle Pharmaceuticals announced that its board has approved a stock repurchase program on Wednesday, August 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the specialty pharmaceutical company to purchase up to 13.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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EGRX has been the subject of several research analyst reports. BidaskClub upgraded Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada set a $86.00 price objective on Eagle Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, April 24th. Piper Jaffray Companies set a $118.00 price objective on Eagle Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, July 25th. ValuEngine downgraded Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.40.

In related news, Director Douglas L. Braunstein bought 20,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $49.07 per share, with a total value of $1,001,028.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pete A. Meyers bought 350 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the acquisition, the chief financial officer now owns 350 shares of the company’s stock, valued at $25,021.50. The disclosure for this purchase can be found here. Insiders bought 21,205 shares of company stock worth $1,062,818 over the last three months. Corporate insiders own 19.50% of the company’s stock.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.

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Institutional Ownership by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

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