Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) Receives Average Recommendation of “Hold” from Analysts
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) have received a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $91.50.
A number of equities analysts have issued reports on EGRX shares. BidaskClub downgraded Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Mizuho lowered their price target on Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating on the stock in a research report on Thursday, May 25th. Piper Jaffray Companies set a $118.00 price target on Eagle Pharmaceuticals and gave the stock an “overweight” rating in a research report on Tuesday, May 9th. ValuEngine upgraded Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. Finally, Zacks Investment Research downgraded Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th.
Eagle Pharmaceuticals (EGRX) traded up 1.614% on Tuesday, hitting $73.975. The stock had a trading volume of 38,029 shares. The company’s 50 day moving average is $76.50 and its 200-day moving average is $77.91. The stock has a market cap of $1.13 billion, a P/E ratio of 11.626 and a beta of 1.48. Eagle Pharmaceuticals has a 12 month low of $42.33 and a 12 month high of $97.15.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Monday, May 8th. The specialty pharmaceutical company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by $0.02. Eagle Pharmaceuticals had a return on equity of 79.25% and a net margin of 44.48%. The company had revenue of $76.80 million during the quarter, compared to analysts’ expectations of $70.10 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 159.5% compared to the same quarter last year. Analysts forecast that Eagle Pharmaceuticals will post $3.66 EPS for the current year.
In other news, CFO Pete A. Meyers bought 350 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the transaction, the chief financial officer now directly owns 350 shares in the company, valued at approximately $25,021.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 805 shares of company stock worth $61,790. Company insiders own 19.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock valued at $128,000 after buying an additional 202 shares during the period. State of Alaska Department of Revenue increased its position in Eagle Pharmaceuticals by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock valued at $125,000 after buying an additional 702 shares during the period. Mason Street Advisors LLC increased its position in Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock valued at $157,000 after buying an additional 175 shares during the period. Bank of Montreal Can increased its position in Eagle Pharmaceuticals by 323.9% in the second quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock valued at $197,000 after buying an additional 1,908 shares during the period. Finally, Campbell Newman Asset Management Inc. purchased a new position in Eagle Pharmaceuticals during the first quarter valued at $213,000.
Eagle Pharmaceuticals Company Profile
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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