Analysts Anticipate Egalet Corporation (EGLT) to Post -$0.38 Earnings Per Share

Analysts forecast that Egalet Corporation (NASDAQ:EGLT) will announce earnings per share (EPS) of ($0.38) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Egalet’s earnings, with the highest EPS estimate coming in at ($0.37) and the lowest estimate coming in at ($0.39). Egalet posted earnings of ($0.87) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 56.3%. The business is expected to report its next quarterly earnings results on Thursday, March 8th.

On average, analysts expect that Egalet will report full-year earnings of ($2.82) per share for the current year, with EPS estimates ranging from ($2.92) to ($2.55). For the next financial year, analysts expect that the business will report earnings of ($1.04) per share, with EPS estimates ranging from ($1.30) to ($0.70). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Egalet.

Several research analysts have weighed in on the company. Cantor Fitzgerald set a $7.00 price objective on Egalet and gave the stock a “buy” rating in a research report on Friday. Gabelli cut Egalet from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $7.10.

Several hedge funds and other institutional investors have recently modified their holdings of EGLT. GMT Capital Corp purchased a new position in shares of Egalet during the 2nd quarter valued at $1,281,000. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Egalet during the 3rd quarter valued at $435,000. Goldman Sachs Group Inc. lifted its position in shares of Egalet by 515.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after buying an additional 103,402 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Egalet during the 2nd quarter valued at $179,000. Finally, Virtu KCG Holdings LLC lifted its position in shares of Egalet by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 37,155 shares during the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Egalet (NASDAQ EGLT) traded up $0.21 during mid-day trading on Thursday, reaching $1.22. The company’s stock had a trading volume of 19,298,957 shares, compared to its average volume of 2,243,438. The company has a debt-to-equity ratio of -3.43, a quick ratio of 2.68 and a current ratio of 2.73. Egalet has a twelve month low of $0.80 and a twelve month high of $10.00.

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About Egalet

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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