A number of other brokerages also recently issued reports on EGRX. Royal Bank of Canada reissued a buy rating and set a $66.00 price objective on shares of Eagle Pharmaceuticals in a research report on Sunday, August 11th. TheStreet lowered shares of Eagle Pharmaceuticals from a b- rating to a c+ rating in a report on Friday, November 22nd. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a hold rating to a strong sell rating in a research report on Thursday, October 17th. Finally, ValuEngine lowered shares of Eagle Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, October 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Eagle Pharmaceuticals has a consensus rating of Hold and an average target price of $60.25.
Shares of EGRX stock traded up $1.00 during trading hours on Wednesday, reaching $56.43. The company’s stock had a trading volume of 102,344 shares, compared to its average volume of 171,238. The company has a current ratio of 4.24, a quick ratio of 4.07 and a debt-to-equity ratio of 0.20. Eagle Pharmaceuticals has a one year low of $36.03 and a one year high of $64.94. The stock has a market capitalization of $771.46 million, a P/E ratio of 27.00 and a beta of 1.40. The firm’s fifty day simple moving average is $59.76 and its 200 day simple moving average is $56.68.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Tuesday, November 12th. The specialty pharmaceutical company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.17). Eagle Pharmaceuticals had a net margin of 12.72% and a return on equity of 16.07%. The business had revenue of $41.10 million for the quarter, compared to the consensus estimate of $45.44 million. During the same quarter in the prior year, the company earned $1.18 EPS. Eagle Pharmaceuticals’s revenue was down 19.9% compared to the same quarter last year. As a group, equities research analysts forecast that Eagle Pharmaceuticals will post 1.45 earnings per share for the current fiscal year.
In other news, Director Hudson Executive Capital Lp sold 1,112 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $60.06, for a total value of $66,786.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 51,179 shares of company stock valued at $3,184,071 in the last three months. Corporate insiders own 31.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in EGRX. BlackRock Inc. increased its stake in shares of Eagle Pharmaceuticals by 5.0% in the 2nd quarter. BlackRock Inc. now owns 1,743,694 shares of the specialty pharmaceutical company’s stock worth $97,089,000 after acquiring an additional 83,722 shares in the last quarter. Park West Asset Management LLC grew its holdings in Eagle Pharmaceuticals by 24.4% in the second quarter. Park West Asset Management LLC now owns 1,300,000 shares of the specialty pharmaceutical company’s stock worth $72,384,000 after purchasing an additional 254,689 shares during the period. LSV Asset Management increased its stake in shares of Eagle Pharmaceuticals by 61.7% during the second quarter. LSV Asset Management now owns 404,369 shares of the specialty pharmaceutical company’s stock valued at $22,515,000 after purchasing an additional 154,365 shares in the last quarter. Invesco Ltd. increased its stake in shares of Eagle Pharmaceuticals by 50.4% during the second quarter. Invesco Ltd. now owns 402,792 shares of the specialty pharmaceutical company’s stock valued at $22,427,000 after purchasing an additional 134,931 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in shares of Eagle Pharmaceuticals by 0.6% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 154,654 shares of the specialty pharmaceutical company’s stock valued at $8,749,000 after purchasing an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 95.25% 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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