Egalet Corporation (NASDAQ:EGLT)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $0.93 and last traded at $0.94, with a volume of 581,444 shares changing hands. The stock had previously closed at $0.98.
A number of equities analysts recently commented on the company. Cantor Fitzgerald reiterated a “buy” rating on shares of Egalet Corporation in a research report on Saturday, August 26th. Guggenheim set a $7.00 price objective on Egalet Corporation and gave the stock a “buy” rating in a research report on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $6.00 price objective (down previously from $14.00) on shares of Egalet Corporation in a research report on Thursday, August 10th. Finally, JMP Securities reduced their price objective on Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating on the stock in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Egalet Corporation has a consensus rating of “Buy” and a consensus price target of $7.10.
The company has a 50-day moving average price of $1.23 and a 200 day moving average price of $1.94. The company’s market cap is $24.84 million.
Egalet Corporation (NASDAQ:EGLT) last issued its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.10). Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 444.50%. The business had revenue of $6.26 million for the quarter, compared to analysts’ expectations of $6.68 million. During the same period in the prior year, the company earned ($0.97) EPS. The company’s revenue for the quarter was up 81.4% compared to the same quarter last year. Analysts forecast that Egalet Corporation will post ($2.75) EPS for the current year.
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in shares of Egalet Corporation by 80.3% during the 1st quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after purchasing an additional 13,570 shares during the period. KCG Holdings Inc. lifted its stake in shares of Egalet Corporation by 81.0% during the 1st quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after purchasing an additional 19,116 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Egalet Corporation by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock worth $109,000 after purchasing an additional 500 shares during the period. LMR Partners LLP purchased a new position in shares of Egalet Corporation during the 2nd quarter worth $179,000. Finally, Virtu KCG Holdings LLC lifted its stake in shares of Egalet Corporation by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 37,155 shares during the period. 32.62% of the stock is currently owned by institutional investors.
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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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