Egalet Corporation (NASDAQ:EGLT) – Research analysts at Gabelli reduced their FY2017 earnings per share (EPS) estimates for Egalet Corporation in a report issued on Wednesday. Gabelli analyst K. Kedra now anticipates that the specialty pharmaceutical company will post earnings of ($3.50) per share for the year, down from their prior forecast of ($3.45). Gabelli has a “Buy” rating and a $9.50 price objective on the stock. Gabelli also issued estimates for Egalet Corporation’s FY2018 earnings at ($2.70) EPS, FY2019 earnings at ($2.10) EPS, FY2020 earnings at ($1.10) EPS and FY2021 earnings at ($0.25) EPS.

Egalet Corporation (NASDAQ:EGLT) last posted its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by $0.12. The company had revenue of $5.57 million for the quarter, compared to the consensus estimate of $6.92 million. Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 494.00%. During the same period in the previous year, the firm posted ($0.76) EPS.

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Several other analysts have also recently weighed in on EGLT. Cantor Fitzgerald set a $8.00 price objective on shares of Egalet Corporation and gave the company a “buy” rating in a research report on Saturday, May 13th. Zacks Investment Research upgraded shares of Egalet Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. ValuEngine cut shares of Egalet Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Finally, Guggenheim restated a “buy” rating and set a $24.00 price objective on shares of Egalet Corporation in a research report on Saturday, March 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Egalet Corporation has a consensus rating of “Buy” and an average price target of $12.00.

Shares of Egalet Corporation (EGLT) opened at 2.26 on Friday. The company’s market cap is $56.58 million. The firm’s 50 day moving average is $2.74 and its 200-day moving average is $4.84. Egalet Corporation has a 1-year low of $2.03 and a 1-year high of $10.00.

In related news, CFO Stan Musial sold 8,613 shares of Egalet Corporation stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $5.04, for a total value of $43,409.52. Following the transaction, the chief financial officer now owns 45,887 shares in the company, valued at approximately $231,270.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark Strobeck sold 8,700 shares of Egalet Corporation stock in a transaction on Friday, March 31st. The stock was sold at an average price of $5.11, for a total transaction of $44,457.00. Following the completion of the transaction, the chief operating officer now owns 29,480 shares in the company, valued at approximately $150,642.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,655 shares of company stock worth $94,703. Corporate insiders own 13.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. HighTower Advisors LLC boosted its position in shares of Egalet Corporation by 2.0% in the first quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock worth $1,358,000 after buying an additional 5,211 shares during the last quarter. KCG Holdings Inc. boosted its position in shares of Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after buying an additional 19,116 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Egalet Corporation by 3.0% in the first quarter. Geode Capital Management LLC now owns 115,147 shares of the specialty pharmaceutical company’s stock worth $587,000 after buying an additional 3,338 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Egalet Corporation by 109.2% in the first quarter. Vanguard Group Inc. now owns 648,206 shares of the specialty pharmaceutical company’s stock worth $3,306,000 after buying an additional 338,320 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 13,570 shares during the last quarter. Institutional investors own 64.81% of the company’s stock.

Egalet Corporation Company Profile

Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.

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