Eagle Pharmaceuticals Inc. (EGRX) Lifted to “Hold” at Zacks Investment Research
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Eagle Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The Company markets EP-1101 to treat heparin-induced thrombocytopenia. It develops EP-3101, EP-3102, Ryanodex and EP-4104. Eagle Pharmaceuticals, Inc. is based in Woodcliff Lake, New Jersey. “
Other equities research analysts also recently issued research reports about the stock. Mizuho lifted their price target on shares of Eagle Pharmaceuticals from $47.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. TheStreet upgraded shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $78.00 price target on shares of Eagle Pharmaceuticals in a research note on Monday, June 13th. Three 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 company. The company currently has a consensus rating of “Buy” and a consensus price target of $91.94.
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Eagle Pharmaceuticals (NASDAQ:EGRX) traded up 6.63% during trading on Tuesday, reaching $64.95. 577,188 shares of the company’s stock traded hands. Eagle Pharmaceuticals has a 12 month low of $33.02 and a 12 month high of $102.48. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 333.08 and a beta of 1.18. The firm’s 50 day moving average is $58.34 and its 200-day moving average is $47.60.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. Eagle Pharmaceuticals had a net margin of 3.45% and a return on equity of 3.44%. The firm had revenue of $40.90 million for the quarter, compared to the consensus estimate of $43.55 million. During the same quarter in the previous year, the company earned ($0.53) earnings per share. The business’s revenue was up 581.7% compared to the same quarter last year. Analysts expect that Eagle Pharmaceuticals will post $3.21 EPS for the current fiscal year.
In other news, major shareholder Proquest Investments Iv, L.P. sold 99,795 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $61.36, for a total value of $6,123,421.20. The sale was disclosed in a filing with the SEC, which is available at this link. 18.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Capital Management LLC increased its position in shares of Eagle Pharmaceuticals by 2.9% in the second quarter. Janus Capital Management LLC now owns 1,490,229 shares of the specialty pharmaceutical company’s stock valued at $57,805,000 after buying an additional 42,690 shares during the period. State Street Corp increased its position in shares of Eagle Pharmaceuticals by 64.3% in the first quarter. State Street Corp now owns 629,493 shares of the specialty pharmaceutical company’s stock valued at $25,489,000 after buying an additional 246,262 shares during the period. Cormorant Asset Management LLC increased its position in shares of Eagle Pharmaceuticals by 25.0% in the first quarter. Cormorant Asset Management LLC now owns 500,000 shares of the specialty pharmaceutical company’s stock valued at $20,250,000 after buying an additional 100,000 shares during the period. BlackRock Fund Advisors increased its position in shares of Eagle Pharmaceuticals by 0.6% in the second quarter. BlackRock Fund Advisors now owns 411,735 shares of the specialty pharmaceutical company’s stock valued at $15,971,000 after buying an additional 2,501 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Eagle Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 362,609 shares of the specialty pharmaceutical company’s stock valued at $14,066,000 after buying an additional 10,933 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.
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 EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).
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