$8.54 Million in Sales Expected for Egalet Corp (EGLT) This Quarter

Analysts forecast that Egalet Corp (NASDAQ:EGLT) will post sales of $8.54 million for the current quarter, Zacks reports. Two analysts have provided estimates for Egalet’s earnings, with the lowest sales estimate coming in at $8.28 million and the highest estimate coming in at $8.80 million. Egalet reported sales of $6.14 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 39.1%. The company is expected to issue its next quarterly earnings results on Thursday, March 8th.

On average, analysts expect that Egalet will report full-year sales of $8.54 million for the current year, with estimates ranging from $26.00 million to $27.10 million. For the next fiscal year, analysts forecast that the business will post sales of $44.90 million per share, with estimates ranging from $36.00 million to $53.90 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Egalet.

Egalet (NASDAQ:EGLT) last posted its quarterly earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.01.

EGLT has been the subject of several recent analyst reports. Cantor Fitzgerald set a $7.00 price target on Egalet and gave the stock a “buy” rating in a research report on Thursday, November 16th. Gabelli lowered Egalet from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Stifel Nicolaus lowered Egalet from a “buy” rating to a “hold” rating and set a $1.50 price target for the company. in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Egalet presently has an average rating of “Hold” and a consensus price target of $6.20.

A number of large investors have recently modified their holdings of the business. NJ State Employees Deferred Compensation Plan purchased a new position in Egalet in the 3rd quarter worth about $435,000. Goldman Sachs Group Inc. raised its position in Egalet by 515.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock worth $293,000 after buying an additional 103,402 shares during the last quarter. HighTower Advisors LLC raised its position in Egalet by 0.9% in the 2nd quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock worth $636,000 after buying an additional 2,408 shares during the last quarter. GMT Capital Corp purchased a new position in Egalet in the 2nd quarter worth about $1,281,000. Finally, Virtu KCG Holdings LLC raised its position in Egalet 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 buying an additional 37,155 shares during the last quarter. 50.63% of the stock is owned by institutional investors and hedge funds.

Egalet (NASDAQ EGLT) opened at $0.96 on Thursday. The company has a debt-to-equity ratio of -3.43, a current ratio of 2.73 and a quick ratio of 2.68. The stock has a market capitalization of $41.52, a PE ratio of -0.28 and a beta of 0.44. Egalet has a 52-week low of $0.80 and a 52-week high of $5.65.

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About Egalet

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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Earnings History and Estimates for Egalet (NASDAQ:EGLT)

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