Egalet Corporation (EGLT) COO Sells $11,223.00 in Stock
Egalet Corporation (NASDAQ:EGLT) COO Mark Strobeck sold 8,700 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $1.29, for a total transaction of $11,223.00. Following the completion of the sale, the chief operating officer now owns 12,080 shares in the company, valued at approximately $15,583.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Egalet Corporation (NASDAQ EGLT) traded up 0.78% during trading on Tuesday, hitting $1.30. The stock had a trading volume of 160,318 shares. The stock’s market capitalization is $34.14 million. The stock’s 50-day moving average is $1.27 and its 200-day moving average is $2.44. Egalet Corporation has a 52-week low of $1.01 and a 52-week high of $10.00.
Egalet Corporation (NASDAQ:EGLT) last announced its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.10). Egalet Corporation had a negative net margin of 444.50% and a negative return on equity of 607.49%. The company had revenue of $6.26 million for the quarter, compared to the consensus estimate of $6.68 million. During the same period last year, the business posted ($0.97) EPS. The firm’s revenue was up 81.4% compared to the same quarter last year. On average, analysts predict that Egalet Corporation will post ($2.75) earnings per share for the current fiscal year.
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A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Egalet Corporation in a research note on Saturday, August 26th. Guggenheim set a $7.00 price target on Egalet Corporation and gave the stock a “buy” rating in a research report on Monday, August 14th. JMP Securities dropped their price target on Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating on the stock in a research report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $6.00 price target (down from $14.00) on shares of Egalet Corporation in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $6.50.
Several hedge funds and other institutional investors have recently modified their holdings of EGLT. Teachers Advisors LLC lifted its stake in shares of Egalet Corporation by 10.1% during the 4th quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock worth $306,000 after purchasing an additional 3,666 shares during the last quarter. SG Americas Securities LLC raised its holdings in 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 purchasing an additional 13,570 shares in the last quarter. KCG Holdings Inc. raised its holdings in 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 purchasing an additional 19,116 shares in the last quarter. HighTower Advisors LLC raised its holdings in 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 purchasing an additional 5,211 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Egalet Corporation by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock worth $109,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 32.61% of the company’s stock.
About Egalet Corporation
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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