Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX)‘s stock had its “sell” rating reaffirmed by Mizuho in a research report issued on Wednesday. They currently have a $37.00 price objective on the specialty pharmaceutical company’s stock. Mizuho’s target price indicates a potential downside of 35.74% from the company’s previous close.

The analysts wrote, “We view both these programs as zeroes. On the call, mgmt. highlighted its balance sheet flexibility and we continue to believe that the company needs to buy its way out of its current pipeline predicament, ahead of Treanda generics in 2019 (and expect capitulation on further Ryanodex development only after this deal is announced). We summarize 3Q:17 performance in Exhibit 1. We will update our valuation after further digesting call details.””

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. ValuEngine upgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Piper Jaffray Companies set a $75.00 price target on shares of Eagle Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada dropped their price target on shares of Eagle Pharmaceuticals from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $64.33.

Eagle Pharmaceuticals (EGRX) traded up $2.09 on Wednesday, hitting $57.58. 491,398 shares of the stock were exchanged, compared to its average volume of 337,942. The stock has a market capitalization of $863.89, a price-to-earnings ratio of 9.49 and a beta of 1.23. Eagle Pharmaceuticals has a 12 month low of $45.05 and a 12 month high of $97.15.

Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly 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). The company had revenue of $50.10 million during the quarter, compared to the consensus estimate of $52.52 million. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. equities analysts expect that Eagle Pharmaceuticals will post 3.59 earnings per share for the current year.

Eagle Pharmaceuticals announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty pharmaceutical company to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in Eagle Pharmaceuticals by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock worth $125,000 after purchasing an additional 702 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Eagle Pharmaceuticals by 6.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after purchasing an additional 120 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Eagle Pharmaceuticals by 58.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the specialty pharmaceutical company’s stock worth $194,000 after purchasing an additional 908 shares during the period. Bank of Montreal Can boosted its holdings in Eagle Pharmaceuticals by 323.9% in the second quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock worth $197,000 after purchasing an additional 1,908 shares during the period. Finally, Campbell Newman Asset Management Inc. boosted its holdings in Eagle Pharmaceuticals by 4.9% in the second quarter. Campbell Newman Asset Management Inc. now owns 2,693 shares of the specialty pharmaceutical company’s stock worth $212,000 after purchasing an additional 126 shares during the period.

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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