AQR Capital Management LLC increased its stake in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 74.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,547 shares of the specialty pharmaceutical company’s stock after buying an additional 14,743 shares during the period. AQR Capital Management LLC owned approximately 0.23% of Eagle Pharmaceuticals worth $2,865,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in EGRX. BlackRock Inc. raised its position in shares of Eagle Pharmaceuticals by 183,871.5% in the first quarter. BlackRock Inc. now owns 1,206,853 shares of the specialty pharmaceutical company’s stock valued at $100,097,000 after buying an additional 1,206,197 shares during the last quarter. Iridian Asset Management LLC CT raised its position in Eagle Pharmaceuticals by 1,804.5% in the first quarter. Iridian Asset Management LLC CT now owns 755,027 shares of the specialty pharmaceutical company’s stock valued at $62,622,000 after buying an additional 715,382 shares during the last quarter. FMR LLC raised its position in Eagle Pharmaceuticals by 248.9% in the first quarter. FMR LLC now owns 320,992 shares of the specialty pharmaceutical company’s stock valued at $26,623,000 after buying an additional 228,981 shares during the last quarter. Victory Capital Management Inc. raised its position in Eagle Pharmaceuticals by 24.3% in the first quarter. Victory Capital Management Inc. now owns 1,072,714 shares of the specialty pharmaceutical company’s stock valued at $88,971,000 after buying an additional 209,398 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in Eagle Pharmaceuticals during the first quarter valued at approximately $10,842,000.
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) traded down 3.32% during midday trading on Friday, hitting $54.16. 342,843 shares of the company were exchanged. Eagle Pharmaceuticals, Inc. has a one year low of $45.05 and a one year high of $97.15. The company’s 50 day moving average price is $63.74 and its 200 day moving average price is $75.63. The firm has a market cap of $821.55 million, a P/E ratio of 9.09 and a beta of 1.31.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by $0.18. The business had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. Eagle Pharmaceuticals’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. Equities analysts expect that Eagle Pharmaceuticals, Inc. will post $3.61 EPS for the current year.
Eagle Pharmaceuticals announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty pharmaceutical company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Several analysts have issued reports on the stock. Royal Bank Of Canada set a $86.00 price objective on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, April 24th. Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Piper Jaffray Companies set a $118.00 price target on shares of Eagle Pharmaceuticals and gave the stock an “overweight” rating in a research report on Tuesday, May 9th. ValuEngine raised shares of Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. Finally, Mizuho decreased their price target on shares of Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating for the company in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Eagle Pharmaceuticals presently has an average rating of “Hold” and an average price target of $75.40.
In related news, Director Douglas L. Braunstein bought 20,400 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $49.07 per share, with a total value of $1,001,028.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pete A. Meyers bought 350 shares of the business’s stock in a transaction on Monday, June 12th. The stock was bought at an average cost of $71.49 per share, for a total transaction of $25,021.50. Following the purchase, the chief financial officer now directly owns 350 shares of the company’s stock, valued at approximately $25,021.50. The disclosure for this purchase can be found here. Insiders have bought 21,100 shares of company stock worth $1,045,457 in the last ninety days. 19.50% of the stock is currently owned by insiders.
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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