Egalet Corp (EGLT) Given Average Recommendation of “Hold” by Analysts
Shares of Egalet Corp (NASDAQ:EGLT) have earned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.38.
EGLT has been the subject of a number of recent research reports. Cantor Fitzgerald set a $7.00 price objective on shares of Egalet and gave the company a “buy” rating in a research note on Friday, December 15th. Gabelli lowered shares of Egalet from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Stifel Nicolaus lowered shares of Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective for the company. in a research note on Wednesday, January 3rd.
Egalet (EGLT) opened at $1.04 on Tuesday. Egalet has a one year low of $0.80 and a one year high of $6.10. The firm has a market cap of $44.75, a P/E ratio of -0.31 and a beta of 0.44. The company has a quick ratio of 2.68, a current ratio of 2.73 and a debt-to-equity ratio of -3.43.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EGLT. GMT Capital Corp purchased a new position in shares of Egalet during the 2nd quarter valued at $1,281,000. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Egalet during the 3rd quarter valued at $435,000. Goldman Sachs Group Inc. grew its position in shares of Egalet by 515.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after purchasing an additional 103,402 shares in the last quarter. Virtu KCG Holdings LLC grew its position in shares of Egalet by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 37,155 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Egalet by 0.9% during the 2nd quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after purchasing an additional 2,408 shares in the last quarter. Hedge funds and other institutional investors own 50.63% of the company’s stock.
Egalet 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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