Brokerages Expect Egalet Corporation (EGLT) to Announce -$0.49 EPS
Wall Street analysts forecast that Egalet Corporation (NASDAQ:EGLT) will announce earnings of ($0.49) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Egalet Corporation’s earnings, with the lowest EPS estimate coming in at ($0.52) and the highest estimate coming in at ($0.46). Egalet Corporation reported earnings of ($1.10) per share in the same quarter last year, which would suggest a positive year over year growth rate of 55.5%. The business is expected to issue its next earnings results before the market opens on Wednesday, November 8th.
According to Zacks, analysts expect that Egalet Corporation will report full-year earnings of ($2.85) per share for the current year, with EPS estimates ranging from ($3.01) to ($2.60). For the next financial year, analysts anticipate that the firm will post earnings of ($1.02) per share, with EPS estimates ranging from ($1.25) to ($0.70). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Egalet Corporation.
Egalet Corporation (NASDAQ:EGLT) last issued its quarterly 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 firm had revenue of $6.26 million for the quarter, compared to the consensus estimate of $6.68 million. During the same quarter in the prior year, the firm earned ($0.97) earnings per share. The company’s revenue was up 81.4% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Egalet Corporation in a research note on Sunday, August 20th. JMP Securities lowered their price target on Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Friday, July 14th. Guggenheim set a $7.00 price target on Egalet Corporation and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $6.00 price target (down from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Egalet Corporation presently has a consensus rating of “Buy” and an average price target of $7.10.
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Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in shares of Egalet Corporation by 1.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock valued at $109,000 after purchasing an additional 500 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Egalet Corporation by 80.3% in the 1st quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after acquiring an additional 13,570 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Egalet Corporation in the 2nd quarter worth approximately $179,000. Virtu KCG Holdings LLC boosted its holdings in shares of Egalet Corporation by 87.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after acquiring an additional 37,155 shares in the last quarter. Finally, KCG Holdings Inc. boosted its holdings in shares of Egalet Corporation by 81.0% in the 1st quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after acquiring an additional 19,116 shares in the last quarter. Institutional investors own 33.41% of the company’s stock.
Egalet Corporation (EGLT) opened at $1.02 on Tuesday. Egalet Corporation has a 12 month low of $0.91 and a 12 month high of $10.00. The company has a debt-to-equity ratio of -3.22, a current ratio of 3.11 and a quick ratio of 3.04.
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.
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