Eagle Pharmaceuticals (NASDAQ:EGRX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Eagle Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The Company markets EP-1101 to treat heparin-induced thrombocytopenia. It develops EP-3101, EP-3102, Ryanodex and EP-4104. Eagle Pharmaceuticals, Inc. is based in Woodcliff Lake, New Jersey. “

EGRX has been the subject of a number of other reports. BidaskClub upgraded DENTSPLY SIRONA from a buy rating to a strong-buy rating in a report on Thursday, June 13th. Cantor Fitzgerald reiterated a buy rating and issued a $15.00 price target on shares of Foamix Pharmaceuticals in a report on Tuesday, May 7th. ValuEngine upgraded Xylem from a hold rating to a buy rating in a report on Tuesday, April 23rd. Finally, Mizuho reiterated a buy rating and issued a $37.00 price target on shares of Revance Therapeutics in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Eagle Pharmaceuticals has an average rating of Hold and a consensus price target of $58.20.

Shares of NASDAQ EGRX opened at $54.20 on Wednesday. Eagle Pharmaceuticals has a twelve month low of $36.03 and a twelve month high of $85.66. The company has a quick ratio of 3.89, a current ratio of 4.12 and a debt-to-equity ratio of 0.21. The company has a market cap of $750.66 million, a P/E ratio of 25.93 and a beta of 1.51. The firm has a 50 day moving average price of $53.79.

Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.28. Eagle Pharmaceuticals had a return on equity of 21.38% and a net margin of 17.67%. The business had revenue of $49.80 million during the quarter, compared to the consensus estimate of $47.03 million. During the same period in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts forecast that Eagle Pharmaceuticals will post 1.75 EPS for the current year.

In related news, Director Douglas L. Braunstein sold 159,223 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $56.81, for a total transaction of $9,045,458.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in Eagle Pharmaceuticals by 156.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 642 shares of the specialty pharmaceutical company’s stock valued at $32,000 after purchasing an additional 392 shares during the period. Quantamental Technologies LLC acquired a new position in Eagle Pharmaceuticals during the 1st quarter valued at approximately $79,000. Flinton Capital Management LLC boosted its position in Eagle Pharmaceuticals by 23.9% during the 4th quarter. Flinton Capital Management LLC now owns 2,464 shares of the specialty pharmaceutical company’s stock valued at $99,000 after purchasing an additional 476 shares during the period. BNP Paribas Arbitrage SA boosted its position in Eagle Pharmaceuticals by 545.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,602 shares of the specialty pharmaceutical company’s stock valued at $131,000 after purchasing an additional 2,199 shares during the period. Finally, Neuburgh Advisers LLC boosted its position in Eagle Pharmaceuticals by 23.9% during the 4th quarter. Neuburgh Advisers LLC now owns 2,992 shares of the specialty pharmaceutical company’s stock valued at $121,000 after purchasing an additional 578 shares during the period. Institutional investors and hedge funds own 94.89% of the company’s stock.

About Eagle Pharmaceuticals

Eagle Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The company offers Argatroban, an anti-coagulant thrombin inhibitor for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL); and Belrapzo, a chemotherapeutic agent for CLL and Indolent NHL.

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