Eagle Pharmaceuticals, Inc. (EGRX) CFO Purchases $19,407.50 in Stock
Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) CFO Pete A. Meyers bought 350 shares of Eagle Pharmaceuticals stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $55.45 per share, for a total transaction of $19,407.50. Following the acquisition, the chief financial officer now owns 700 shares in the company, valued at $38,815. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
Eagle Pharmaceuticals, Inc. (NASDAQ EGRX) traded up 3.09% on Wednesday, reaching $55.77. The company’s stock had a trading volume of 324,393 shares. The stock’s 50 day moving average is $65.15 and its 200-day moving average is $75.86. Eagle Pharmaceuticals, Inc. has a 52 week low of $45.05 and a 52 week high of $97.15. The firm has a market capitalization of $845.98 million, a PE ratio of 9.36 and a beta of 1.31.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.18. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm had revenue of $50.10 million for the quarter, compared to analyst estimates of $52.52 million. During the same period last year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. Analysts predict that Eagle Pharmaceuticals, Inc. will post $3.61 EPS for the current year.
Eagle Pharmaceuticals announced that its board has authorized a share repurchase program on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty pharmaceutical company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Eagle Pharmaceuticals during the fourth quarter worth $5,634,000. Teachers Advisors LLC increased its stake in Eagle Pharmaceuticals by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 15,537 shares of the specialty pharmaceutical company’s stock worth $1,233,000 after buying an additional 752 shares during the period. Louisiana State Employees Retirement System increased its stake in Eagle Pharmaceuticals by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 100 shares during the period. Rice Hall James & Associates LLC purchased a new stake in Eagle Pharmaceuticals during the first quarter worth $10,842,000. Finally, Fisher Asset Management LLC increased its stake in Eagle Pharmaceuticals by 32.9% in the first quarter. Fisher Asset Management LLC now owns 7,680 shares of the specialty pharmaceutical company’s stock worth $637,000 after buying an additional 1,900 shares during the period.
A number of research firms have commented on EGRX. BidaskClub raised Eagle Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday. Piper Jaffray Companies set a $75.00 target price on Eagle Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. ValuEngine downgraded Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reduced their target price on Eagle Pharmaceuticals from $94.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.40.
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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