Eagle Pharmaceuticals, Inc. (EGRX) Position Boosted by Bank of America Corp DE

Bank of America Corp DE raised its position in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 2.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 14,765 shares of the specialty pharmaceutical company’s stock after buying an additional 334 shares during the period. Bank of America Corp DE owned about 0.10% of Eagle Pharmaceuticals worth $1,225,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock worth $128,000 after buying an additional 202 shares during the period. Mason Street Advisors LLC boosted its stake in Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock worth $157,000 after buying an additional 175 shares during the period. Louisiana State Employees Retirement System boosted its stake in Eagle Pharmaceuticals by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its stake in Eagle Pharmaceuticals by 2.4% in the first quarter. Arizona State Retirement System now owns 4,200 shares of the specialty pharmaceutical company’s stock worth $348,000 after buying an additional 100 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in Eagle Pharmaceuticals by 9.5% in the first quarter. Thrivent Financial For Lutherans now owns 4,600 shares of the specialty pharmaceutical company’s stock worth $382,000 after buying an additional 400 shares during the period.

Eagle Pharmaceuticals, Inc. (EGRX) traded down 3.03% on Friday, reaching $54.32. 84,441 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $64.44 and its 200 day moving average price is $75.72. The firm has a market capitalization of $823.98 million, a PE ratio of 9.12 and a beta of 1.31. Eagle Pharmaceuticals, Inc. has a 52-week low of $45.05 and a 52-week high of $97.15.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.18. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The company had revenue of $50.10 million for the quarter, compared to analyst estimates of $52.52 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. Eagle Pharmaceuticals’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, analysts predict that Eagle Pharmaceuticals, Inc. will post $3.61 EPS for the current fiscal year.

Eagle Pharmaceuticals declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty pharmaceutical company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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Several brokerages recently commented on EGRX. BidaskClub raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada set a $86.00 target price on Eagle Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, April 24th. Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, July 25th. ValuEngine cut Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.40.

In other Eagle Pharmaceuticals news, Director Douglas L. Braunstein acquired 20,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Pete A. Meyers acquired 350 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the acquisition, the chief financial officer now directly owns 350 shares of the company’s stock, valued at $25,021.50. The disclosure for this purchase can be found here. Insiders purchased 21,100 shares of company stock worth $1,045,457 over the last 90 days. 19.50% of the stock is currently owned by company insiders.

Eagle Pharmaceuticals Company Profile

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.

Institutional Ownership by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

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