Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, May 10th.
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. “
A number of other analysts also recently commented on EGRX. Royal Bank Of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Eagle Pharmaceuticals in a report on Thursday, March 2nd. Mizuho increased their price objective on shares of Eagle Pharmaceuticals from $64.00 to $66.00 and gave the company an “underperform” rating in a report on Monday, February 27th. Finally, Piper Jaffray Companies set a $118.00 price objective on shares of Eagle Pharmaceuticals and gave the company an “overweight” rating in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $90.00.
Shares of Eagle Pharmaceuticals (NASDAQ EGRX) traded up 0.19% during midday trading on Wednesday, hitting $73.18. The stock had a trading volume of 240,594 shares. The stock has a market cap of $1.12 billion, a PE ratio of 11.50 and a beta of 1.48. Eagle Pharmaceuticals has a 52-week low of $34.20 and a 52-week high of $97.15. The firm has a 50 day moving average price of $80.67 and a 200-day moving average price of $77.82.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Monday, May 8th. The specialty pharmaceutical company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.44 by $0.02. Eagle Pharmaceuticals had a return on equity of 79.25% and a net margin of 44.48%. The company had revenue of $76.80 million for the quarter, compared to analyst estimates of $70.10 million. During the same quarter last year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 159.5% on a year-over-year basis. Equities analysts predict that Eagle Pharmaceuticals will post $3.66 EPS for the current fiscal year.
In other news, EVP Steven L. Krill sold 14,125 shares of the stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $81.07, for a total value of $1,145,113.75. Following the completion of the sale, the executive vice president now owns 5,023 shares of the company’s stock, valued at approximately $407,214.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Pete A. Meyers acquired 350 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $71.49 per share, with a total value of $25,021.50. Following the transaction, the chief financial officer now directly owns 350 shares in the company, valued at approximately $25,021.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,866 shares of company stock valued at $543,553 and sold 412,918 shares valued at $34,451,889. Corporate insiders own 18.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in Eagle Pharmaceuticals by 87.0% in the third quarter. BlackRock Fund Advisors now owns 769,869 shares of the specialty pharmaceutical company’s stock worth $53,891,000 after buying an additional 358,134 shares during the last quarter. Norges Bank bought a new position in Eagle Pharmaceuticals during the fourth quarter worth $5,634,000. Essex Investment Management Co. LLC bought a new position in Eagle Pharmaceuticals during the third quarter worth $1,016,000. Oxford Asset Management bought a new position in Eagle Pharmaceuticals during the first quarter worth $1,559,000. Finally, State Street Corp boosted its position in Eagle Pharmaceuticals by 16.9% in the fourth quarter. State Street Corp now owns 653,521 shares of the specialty pharmaceutical company’s stock worth $51,855,000 after buying an additional 94,563 shares during the last quarter.
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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.
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