Eagle Pharmaceuticals Inc. (EGRX) Upgraded by Zacks Investment Research to Hold
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors 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. “
EGRX has been the topic of a number of other reports. Mizuho cut Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $47.00 in a research note on Monday, June 20th. Royal Bank Of Canada restated a “buy” rating and set a $78.00 price target on shares of Eagle Pharmaceuticals in a research note on Monday, June 13th. Finally, TheStreet upgraded Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $91.94.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/eagle-pharmaceuticals-inc-egrx-upgraded-by-zacks-investment-research-to-hold.html
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded up 6.63% during mid-day trading on Tuesday, reaching $64.95. The company’s stock had a trading volume of 577,188 shares. The company’s 50-day moving average is $58.34 and its 200-day moving average is $47.60. Eagle Pharmaceuticals has a 52 week low of $33.02 and a 52 week high of $102.48. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 333.08 and a beta of 1.18.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Eagle Pharmaceuticals had a return on equity of 3.44% and a net margin of 3.45%. The company had revenue of $40.90 million for the quarter, compared to analysts’ expectations of $43.55 million. During the same period in the prior year, the firm earned ($0.53) earnings per share. The firm’s revenue was up 581.7% compared to the same quarter last year. Equities analysts predict that Eagle Pharmaceuticals will post $3.21 EPS for the current year.
In other news, major shareholder Proquest Investments Iv, L.P. sold 24,949 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.77, for a total value of $1,516,150.73. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in 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. Bank of Montreal Can acquired a new position in Eagle Pharmaceuticals during the second quarter valued at approximately $5,356,000. Perceptive Advisors LLC raised its position in Eagle Pharmaceuticals by 60.2% in the second quarter. Perceptive Advisors LLC now owns 300,000 shares of the specialty pharmaceutical company’s stock valued at $11,637,000 after buying an additional 112,785 shares during the period. Cormorant Asset Management LLC raised its position in 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. Finally, A.R.T. Advisors LLC acquired a new position in Eagle Pharmaceuticals during the second quarter valued at approximately $3,259,000. 95.67% of the stock is currently owned by hedge funds and other 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.