Egalet Corporation (EGLT) Upgraded to Buy at Gabelli

Egalet Corporation (NASDAQ:EGLT) was upgraded by investment analysts at Gabelli from a “hold” rating to a “buy” rating in a report issued on Friday, May 12th, MarketBeat reports. The firm presently has a $9.50 price objective on the specialty pharmaceutical company’s stock. Gabelli’s target price indicates a potential upside of 242.96% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other analysts have also commented on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 target price on shares of Egalet Corporation in a research report on Tuesday, January 24th. Zacks Investment Research raised Egalet Corporation from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Tuesday, May 9th. Finally, Guggenheim reissued a “buy” rating and set a $24.00 price objective on shares of Egalet Corporation in a report on Saturday, March 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.00.

Egalet Corporation (NASDAQ EGLT) traded up 4.92% during trading on Friday, reaching $2.77. The company’s stock had a trading volume of 667,253 shares. The firm’s market cap is $69.34 million. Egalet Corporation has a 52 week low of $2.03 and a 52 week high of $10.00. The stock’s 50 day moving average is $2.80 and its 200-day moving average is $4.94.

Egalet Corporation (NASDAQ:EGLT) last issued its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by $0.12. Egalet Corporation had a negative net margin of 494.00% and a negative return on equity of 607.49%. The firm had revenue of $5.57 million during the quarter, compared to the consensus estimate of $6.92 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. On average, equities research analysts forecast that Egalet Corporation will post ($3.50) earnings per share for the current fiscal year.

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In other Egalet Corporation news, CFO Stan Musial sold 8,613 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $5.04, for a total transaction of $43,409.52. Following the sale, the chief financial officer now owns 45,887 shares in the company, valued at $231,270.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark Strobeck sold 8,700 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $5.11, for a total value of $44,457.00. Following the completion of the sale, the chief operating officer now owns 29,480 shares in the company, valued at approximately $150,642.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,905 shares of company stock worth $114,890. 13.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 13,570 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Egalet Corporation during the fourth quarter worth approximately $194,000. KCG Holdings Inc. boosted its position in Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after buying an additional 19,116 shares in the last quarter. Teachers Advisors LLC boosted its position in Egalet Corporation by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock worth $306,000 after buying an additional 3,666 shares in the last quarter. Finally, Tyers Asset Management LLC purchased a new position in Egalet Corporation during the fourth quarter worth approximately $307,000. Institutional investors own 65.40% of the company’s stock.

Egalet Corporation Company Profile

Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.

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