Q3 2017 EPS Estimates for Eagle Pharmaceuticals, Inc. Cut by Analyst (EGRX)
Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) – William Blair cut their Q3 2017 earnings per share (EPS) estimates for Eagle Pharmaceuticals in a report issued on Monday. William Blair analyst T. Lugo now forecasts that the specialty pharmaceutical company will post earnings of $0.64 per share for the quarter, down from their prior estimate of $0.76.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.18). Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same quarter last year, the business posted $0.80 EPS. Eagle Pharmaceuticals’s quarterly revenue was up 22.5% compared to the same quarter last year.
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EGRX has been the topic of a number of other reports. ValuEngine upgraded Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho dropped their price objective on Eagle Pharmaceuticals from $40.00 to $37.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 6th. BidaskClub upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Piper Jaffray Companies set a $75.00 price objective on Eagle Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research lowered Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $72.50.
Shares of Eagle Pharmaceuticals (NASDAQ EGRX) opened at 49.60 on Thursday. The stock has a 50 day moving average price of $56.96 and a 200-day moving average price of $69.64. The firm has a market cap of $752.38 million, a price-to-earnings ratio of 8.33 and a beta of 1.31. Eagle Pharmaceuticals has a 1-year low of $45.05 and a 1-year high of $97.15.
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its stake in Eagle Pharmaceuticals by 15.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock valued at $128,000 after acquiring an additional 202 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Eagle Pharmaceuticals by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock valued at $125,000 after purchasing an additional 702 shares during the period. Mason Street Advisors LLC grew its stake in shares of Eagle Pharmaceuticals by 10.2% in the 1st quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock valued at $157,000 after purchasing an additional 175 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Eagle Pharmaceuticals by 6.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock valued at $151,000 after purchasing an additional 120 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Eagle Pharmaceuticals by 323.9% in the 2nd quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock valued at $197,000 after purchasing an additional 1,908 shares during the period.
In other news, Director Douglas L. Braunstein purchased 20,400 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.50% of the company’s stock.
Eagle Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty pharmaceutical company to purchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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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