Shares of Egalet Corporation (NASDAQ:EGLT) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.13.

EGLT has been the subject of a number of recent analyst reports. JMP Securities cut their price target on shares of Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating for the company in a report on Friday, July 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Egalet Corporation in a report on Sunday, August 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 target price (down previously from $14.00) on shares of Egalet Corporation in a report on Thursday, August 10th. Finally, Guggenheim set a $7.00 target price on shares of Egalet Corporation and gave the company a “buy” rating in a report on Monday, August 14th.

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Egalet Corporation (NASDAQ:EGLT) last announced its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.10). The firm had revenue of $6.26 million for the quarter, compared to analyst estimates of $6.68 million. Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 444.50%. The firm’s quarterly revenue was up 81.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.97) EPS.

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in shares of Egalet Corporation by 1.1% during the 2nd 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 during the last quarter. SG Americas Securities LLC lifted its position in shares of Egalet Corporation by 80.3% during the 1st 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 during the last quarter. LMR Partners LLP purchased a new stake in shares of Egalet Corporation during the 2nd quarter worth $179,000. Virtu KCG Holdings LLC lifted its position in shares of Egalet Corporation by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 37,155 shares during the last quarter. Finally, KCG Holdings Inc. lifted its position in shares of Egalet Corporation by 81.0% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 32.62% of the company’s stock.

Egalet Corporation Company Profile

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.

Analyst Recommendations for Egalet Corporation (NASDAQ:EGLT)

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