Eagle Pharmaceuticals Inc (NASDAQ:EGRX) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,280,000 shares, an increase of 27.4% from the September 15th total of 1,790,000 shares. Based on an average trading volume of 175,500 shares, the short-interest ratio is currently 13.0 days. Currently, 19.4% of the shares of the stock are sold short.
Shares of NASDAQ:EGRX traded up $0.23 during mid-day trading on Friday, reaching $46.45. 102,985 shares of the company were exchanged, compared to its average volume of 174,547. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.16 and a quick ratio of 3.97. The firm has a market cap of $632.05 million, a price-to-earnings ratio of -140.76 and a beta of 0.71. The firm’s 50-day simple moving average is $40.69 and its 200 day simple moving average is $46.52. Eagle Pharmaceuticals has a 1 year low of $33.80 and a 1 year high of $64.94.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Monday, August 10th. The specialty pharmaceutical company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.33. The firm had revenue of $41.94 million during the quarter, compared to analysts’ expectations of $37.46 million. Eagle Pharmaceuticals had a negative net margin of 2.54% and a positive return on equity of 4.11%. On average, research analysts forecast that Eagle Pharmaceuticals will post -0.41 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 13th. BidaskClub raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Finally, ValuEngine cut shares of Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.67.
Hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in Eagle Pharmaceuticals in the 2nd quarter valued at approximately $34,000. Bank of Montreal Can boosted its position in Eagle Pharmaceuticals by 2,426.5% in the 2nd quarter. Bank of Montreal Can now owns 1,238 shares of the specialty pharmaceutical company’s stock valued at $58,000 after buying an additional 1,189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Eagle Pharmaceuticals by 114.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,055 shares of the specialty pharmaceutical company’s stock valued at $99,000 after buying an additional 1,095 shares during the period. Caxton Associates LP purchased a new position in Eagle Pharmaceuticals in the 1st quarter valued at approximately $210,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Eagle Pharmaceuticals by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,090 shares of the specialty pharmaceutical company’s stock valued at $234,000 after buying an additional 1,660 shares during the period. 95.38% of the stock is owned by institutional investors.
About Eagle Pharmaceuticals
Eagle Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The company offers Argatroban, an anti-coagulant thrombin inhibitor for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL); and Belrapzo, a chemotherapeutic agent for CLL and Indolent NHL.
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