Egalet Corporation (EGLT) Shares Sold by Fmr LLC

Fmr LLC lessened its position in Egalet Corporation (NASDAQ:EGLT) by 16.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,328,405 shares of the specialty pharmaceutical company’s stock after selling 463,986 shares during the quarter. Fmr LLC owned approximately 9.30% of Egalet Corporation worth $5,518,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in shares of Egalet Corporation by 80.3% in the 1st quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock valued at $155,000 after acquiring an additional 13,570 shares in the last quarter. KCG Holdings Inc. lifted its position in shares of Egalet Corporation by 81.0% in the 1st quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock valued at $218,000 after acquiring an additional 19,116 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Egalet Corporation by 1.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock valued at $109,000 after acquiring an additional 500 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Egalet Corporation in the 2nd quarter valued at approximately $179,000. Finally, New Jersey Better Educational Savings Trust lifted its position in shares of Egalet Corporation by 4.0% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 104,000 shares of the specialty pharmaceutical company’s stock valued at $246,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 32.62% of the company’s stock.

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Egalet Corporation (NASDAQ:EGLT) opened at $0.95 on Friday. The company has a debt-to-equity ratio of -3.22, a current ratio of 3.11 and a quick ratio of 3.04.

Egalet Corporation (NASDAQ:EGLT) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by ($0.10). The business had revenue of $6.26 million for the quarter, compared to analyst estimates of $6.68 million. Egalet Corporation had a negative net margin of 444.50% and a negative return on equity of 607.49%. The business’s revenue was up 81.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.97) EPS. sell-side analysts expect that Egalet Corporation will post -2.85 earnings per share for the current fiscal year.

EGLT has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Egalet Corporation in a research note on Sunday, August 20th. JMP Securities dropped their price objective on shares of Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Friday, July 14th. Guggenheim set a $7.00 price objective on shares of Egalet Corporation and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price objective (down previously from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Egalet Corporation presently has a consensus rating of “Buy” and a consensus target price of $7.10.

About Egalet Corporation

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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Institutional Ownership by Quarter for Egalet Corporation (NASDAQ:EGLT)

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