Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX)‘s stock had its “outperform” rating reissued by RBC Capital Markets in a research report issued on Monday. They presently have a $86.00 target price on the specialty pharmaceutical company’s stock, down from their prior target price of $93.00. RBC Capital Markets’ target price points to a potential upside of 29.62% from the company’s previous close.
EGRX has been the topic of several other research reports. Mizuho downgraded Eagle Pharmaceuticals from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $78.00 to $64.00 in a report on Monday. Royal Bank Of Canada upped their price target on Eagle Pharmaceuticals from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. William Blair upped their price target on Eagle Pharmaceuticals from $83.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Friday, November 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $91.00 price objective on shares of Eagle Pharmaceuticals in a report on Saturday, October 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Eagle Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $85.83.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded down 2.19% on Monday, reaching $64.90. The company had a trading volume of 323,127 shares. Eagle Pharmaceuticals has a 52 week low of $33.02 and a 52 week high of $88.47. The firm has a market capitalization of $1.00 billion, a P/E ratio of 42.25 and a beta of 1.62. The company’s 50-day moving average price is $77.60 and its 200 day moving average price is $62.93.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.12. Eagle Pharmaceuticals had a return on equity of 25.63% and a net margin of 20.06%. The company had revenue of $37.80 million for the quarter, compared to the consensus estimate of $41.04 million. During the same quarter in the prior year, the business earned ($0.65) EPS. Eagle Pharmaceuticals’s revenue was up 563.2% on a year-over-year basis. On average, analysts expect that Eagle Pharmaceuticals will post $4.38 EPS for the current year.
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In related news, major shareholder Proquest Investments Iv, L.P. sold 153,830 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $79.29, for a total value of $12,197,180.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven B. Ratoff sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $75.01, for a total value of $750,100.00. Following the completion of the sale, the director now directly owns 23,324 shares of the company’s stock, valued at $1,749,533.24. The disclosure for this sale can be found here. 18.80% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in EGRX. SG Americas Securities LLC purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $166,000. White Pine Capital LLC purchased a new stake in shares of Eagle Pharmaceuticals during the second quarter worth about $208,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $222,000. Louisiana State Employees Retirement System purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $245,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $245,000.
About Eagle Pharmaceuticals
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 EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).
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