Equities analysts expect Egalet (NASDAQ:EGLT) to report sales of $8.88 million for the current quarter, Zacks reports. Two analysts have issued estimates for Egalet’s earnings, with the highest sales estimate coming in at $9.00 million and the lowest estimate coming in at $8.76 million. Egalet reported sales of $6.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.5%. The company is scheduled to announce its next earnings results on Wednesday, November 14th.
On average, analysts expect that Egalet will report full-year sales of $32.47 million for the current financial year, with estimates ranging from $31.00 million to $34.20 million. For the next year, analysts expect that the company will report sales of $48.06 million per share, with estimates ranging from $40.00 million to $53.27 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Egalet.
Egalet (NASDAQ:EGLT) last posted its quarterly earnings data on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.06. The firm had revenue of $7.44 million for the quarter, compared to the consensus estimate of $8.64 million.
EGLT has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Egalet from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Cantor Fitzgerald lowered shares of Egalet from an “overweight” rating to a “neutral” rating in a research note on Tuesday, May 22nd. Finally, JMP Securities cut their price target on shares of Egalet from $4.00 to $1.50 and set a “market outperform” rating on the stock in a research note on Thursday, August 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $1.67.
A hedge fund recently raised its stake in Egalet stock. Renaissance Technologies LLC raised its stake in shares of Egalet (NASDAQ:EGLT) by 39.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,499,800 shares of the specialty pharmaceutical company’s stock after purchasing an additional 427,400 shares during the quarter. Renaissance Technologies LLC owned about 2.85% of Egalet worth $632,000 at the end of the most recent reporting period. 19.20% of the stock is currently owned by hedge funds and other institutional investors.
Egalet stock remained flat at $$0.35 during mid-day trading on Friday. 190,162 shares of the company’s stock were exchanged, compared to its average volume of 623,489. The company has a debt-to-equity ratio of -1.81, a current ratio of 1.37 and a quick ratio of 1.32. Egalet has a twelve month low of $0.26 and a twelve month high of $1.59. The firm has a market cap of $20.90 million, a price-to-earnings ratio of -0.14 and a beta of 0.57.
Egalet Corporation, a specialty pharmaceutical company, develops, manufactures, and commercializes treatments for patients with pain and other conditions. It has licensed three approved pain products, such as SPRIX Nasal Spray, a non-steroidal anti-inflammatory drug indicated in adult patients for the short-term management of moderate to moderately severe pain that requires analgesia at the opioid level; OXAYDO, an immediate-release oxycodone product designed to discourage abuse via snorting for the management of acute and chronic pain severe enough to require an opioid analgesic, and for which alternative treatments are inadequate; and ARYMO ER, an extended-release (ER) morphine product formulated with abuse-deterrent (AD) properties for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.
Read More: How to Use a Moving Average for Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Egalet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Egalet and related companies with MarketBeat.com's FREE daily email newsletter.