Eagle Pharmaceuticals Inc (EGRX) Given a $94.00 Price Target at Royal Bank Of Canada
Eagle Pharmaceuticals Inc (NASDAQ:EGRX) has been given a $94.00 price objective by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Sunday. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 22.88% from the company’s current price.
A number of other research analysts have also weighed in on the company. BidaskClub lowered Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. Mizuho dropped their target price on Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating on the stock in a report on Thursday, May 25th. ValuEngine upgraded Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 16th. Finally, Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the company an “overweight” rating in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $90.00.
Eagle Pharmaceuticals (NASDAQ:EGRX) traded up 1.02% on Friday, hitting $76.50. The company’s stock had a trading volume of 243,934 shares. The stock has a market cap of $1.17 billion, a PE ratio of 12.02 and a beta of 1.48. Eagle Pharmaceuticals has a 12 month low of $42.33 and a 12 month high of $97.15. The firm has a 50 day moving average of $77.28 and a 200-day moving average of $77.94.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Monday, May 8th. The specialty pharmaceutical company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by $0.02. The firm had revenue of $76.80 million during the quarter, compared to the consensus estimate of $70.10 million. Eagle Pharmaceuticals had a return on equity of 57.82% and a net margin of 29.85%. The firm’s revenue was up 159.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, analysts expect that Eagle Pharmaceuticals will post $3.66 earnings per share for the current fiscal year.
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In other Eagle Pharmaceuticals news, CFO Pete A. Meyers purchased 350 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the acquisition, the chief financial officer now owns 350 shares of the company’s stock, valued at approximately $25,021.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Proquest Investments Iv, L.P. sold 54,180 shares of Eagle Pharmaceuticals stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $88.38, for a total value of $4,788,428.40. The disclosure for this sale can be found here. Insiders have purchased 805 shares of company stock worth $61,790 over the last quarter. 19.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Eagle Pharmaceuticals by 183,871.5% in the first quarter. BlackRock Inc. now owns 1,206,853 shares of the specialty pharmaceutical company’s stock worth $100,097,000 after buying an additional 1,206,197 shares during the period. Victory Capital Management Inc. raised its stake in shares of Eagle Pharmaceuticals by 24.3% in the first quarter. Victory Capital Management Inc. now owns 1,072,714 shares of the specialty pharmaceutical company’s stock worth $88,971,000 after buying an additional 209,398 shares during the period. JW Asset Management LLC raised its stake in shares of Eagle Pharmaceuticals by 1.1% in the fourth quarter. JW Asset Management LLC now owns 857,679 shares of the specialty pharmaceutical company’s stock worth $76,050,000 after buying an additional 8,970 shares during the period. BlackRock Fund Advisors raised its stake in shares of Eagle Pharmaceuticals by 87.0% in the third quarter. BlackRock Fund Advisors now owns 769,869 shares of the specialty pharmaceutical company’s stock worth $53,891,000 after buying an additional 358,134 shares during the period. Finally, Iridian Asset Management LLC CT raised its stake in shares of Eagle Pharmaceuticals by 1,804.5% in the first quarter. Iridian Asset Management LLC CT now owns 755,027 shares of the specialty pharmaceutical company’s stock worth $62,622,000 after buying an additional 715,382 shares during the period.
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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.
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