Eagle Pharmaceuticals (NASDAQ:EGRX) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a hold rating to a buy rating in a research note released on Friday morning, ValuEngine reports.

EGRX has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a hold rating to a strong-buy rating and set a $66.00 price target for the company in a research report on Wednesday. BidaskClub upgraded shares of Eagle Pharmaceuticals from a hold rating to a buy rating in a research report on Saturday, August 10th. Royal Bank of Canada reiterated a buy rating and set a $66.00 price target on shares of Eagle Pharmaceuticals in a research report on Sunday, August 11th. Cantor Fitzgerald reiterated a hold rating and set a $58.00 price target on shares of Eagle Pharmaceuticals in a research report on Tuesday, May 7th. Finally, Mizuho reiterated a hold rating and set a $50.00 price target on shares of Eagle Pharmaceuticals in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $58.80.

Shares of EGRX opened at $58.06 on Friday. Eagle Pharmaceuticals has a 1-year low of $36.03 and a 1-year high of $82.33. The stock has a market cap of $767.80 million, a PE ratio of 19.58 and a beta of 1.44. The firm has a 50-day simple moving average of $55.49 and a two-hundred day simple moving average of $51.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.59 and a quick ratio of 3.36.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. The business had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $53.61 million. During the same period last year, the business earned $0.99 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Eagle Pharmaceuticals will post 2.48 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Wealth Inc. purchased a new position in shares of Eagle Pharmaceuticals in the second quarter valued at approximately $33,000. First Quadrant L P CA purchased a new position in shares of Eagle Pharmaceuticals in the second quarter valued at approximately $34,000. PNC Financial Services Group Inc. boosted its stake in shares of Eagle Pharmaceuticals by 156.8% in the first quarter. PNC Financial Services Group Inc. now owns 642 shares of the specialty pharmaceutical company’s stock valued at $32,000 after purchasing an additional 392 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of Eagle Pharmaceuticals in the second quarter valued at approximately $39,000. Finally, Bank of Montreal Can boosted its stake in shares of Eagle Pharmaceuticals by 395.0% in the second quarter. Bank of Montreal Can now owns 1,277 shares of the specialty pharmaceutical company’s stock valued at $71,000 after purchasing an additional 1,019 shares during the period. 96.61% of the stock is owned by institutional investors and hedge funds.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The company offers Argatroban, an anti-coagulant thrombin inhibitor for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL); and Belrapzo, a chemotherapeutic agent for CLL and Indolent NHL.

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