Eagle Pharmaceuticals Inc. (EGRX) Earns “Neutral” Rating from Mizuho
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX)‘s stock had its “neutral” rating reiterated by analysts at Mizuho in a note issued to investors on Tuesday. They presently have a $47.00 price objective on the specialty pharmaceutical company’s stock, up from their previous price objective of $37.80. Mizuho’s price objective points to a potential downside of 26.48% from the company’s previous close.
EGRX has been the topic of a number of other research reports. Royal Bank Of Canada reduced their target price on Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. Zacks Investment Research downgraded Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Friday, July 22nd. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $98.00 target price on shares of Eagle Pharmaceuticals in a report on Thursday, April 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $90.24.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded down 0.73% during mid-day trading on Tuesday, reaching $63.93. The company had a trading volume of 326,688 shares. The company has a market capitalization of $999.61 million, a price-to-earnings ratio of 327.85 and a beta of 1.16. The company has a 50 day moving average price of $63.46 and a 200 day moving average price of $48.77. Eagle Pharmaceuticals has a one year low of $33.02 and a one year high of $102.48.
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Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $43.55 million. During the same quarter in the previous year, the business earned ($0.53) EPS. Eagle Pharmaceuticals’s revenue was up 581.7% compared to the same quarter last year. On average, analysts anticipate that Eagle Pharmaceuticals will post $3.21 EPS for the current year.
In related news, major shareholder Proquest Investments Iv, L.P. sold 24,949 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 18.80% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Group LTD increased its stake in Eagle Pharmaceuticals by 62.9% in the first quarter. BlackRock Group LTD now owns 2,916 shares of the specialty pharmaceutical company’s stock valued at $118,000 after buying an additional 1,126 shares during the last quarter. White Pine Capital LLC acquired a new position in Eagle Pharmaceuticals during the second quarter valued at about $208,000. LaSalle Street Capital Management LLC acquired a new position in Eagle Pharmaceuticals during the second quarter valued at about $304,000. Columbus Circle Investors acquired a new position in Eagle Pharmaceuticals during the second quarter valued at about $306,000. Finally, Rhumbline Advisers boosted its position in Eagle Pharmaceuticals by 3.3% in the second quarter. Rhumbline Advisers now owns 9,295 shares of the specialty pharmaceutical company’s stock valued at $361,000 after buying an additional 297 shares during the period. Institutional investors 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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