Eagle Pharmaceuticals Inc. (EGRX) Trading Up 2.9%
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) was up 2.9% during mid-day trading on Tuesday . The stock traded as high as $62.75 and last traded at $62.69, with a volume of 153,474 shares changing hands. The stock had previously closed at $60.91.
EGRX has been the subject of several recent research reports. Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Friday, July 22nd. Mizuho lowered shares of Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $47.00 in a report on Monday, June 20th. Royal Bank Of Canada restated a “buy” rating and issued a $78.00 price target on shares of Eagle Pharmaceuticals in a report on Monday, June 13th. Finally, TheStreet upgraded shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Eagle Pharmaceuticals has a consensus rating of “Buy” and an average target price of $91.94.
The company has a 50-day moving average of $58.34 and a 200-day moving average of $47.60. The stock has a market capitalization of $1.02 billion, a PE ratio of 333.08 and a beta of 1.18.
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Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 earned $40.90 million during the quarter, compared to analysts’ expectations of $43.55 million. During the same period last year, the business earned ($0.53) earnings per share. Eagle Pharmaceuticals’s revenue was up 581.7% compared to the same quarter last year. Equities research analysts forecast that Eagle Pharmaceuticals Inc. will post $3.21 earnings per share for the current year.
In related news, major shareholder Proquest Investments Iv, L.P. sold 99,795 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $61.36, for a total transaction of $6,123,421.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 18.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Capital Management LLC raised 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 raised 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 raised 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 raised 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. raised 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. 95.67% of the stock is owned by institutional investors.
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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