Egalet Corp. (EGLT) Shares Up 4.2%
Shares of Egalet Corp. (NASDAQ:EGLT) shot up 4.2% during trading on Thursday . The stock traded as high as $5.37 and last traded at $5.27, with a volume of 50,189 shares trading hands. The stock had previously closed at $5.06.
Several brokerages have commented on EGLT. Janney Montgomery Scott began coverage on Egalet Corp. in a research note on Monday, March 14th. They set a “neutral” rating and a $8.00 target price on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $22.00 target price on shares of Egalet Corp. in a research note on Monday, March 28th. Finally, Zacks Investment Research downgraded Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.88.
The stock has a 50-day moving average price of $5.26 and a 200-day moving average price of $6.99. The stock’s market cap is $135.98 million.
Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.11. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.50 million. The business’s revenue was up 237.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.02) EPS. Analysts predict that Egalet Corp. will post ($3.12) earnings per share for the current year.
In other news, CEO Robert S. Radie sold 5,000 shares of Egalet Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $5.07, for a total transaction of $25,350.00. Following the completion of the sale, the chief executive officer now owns 259,900 shares of the company’s stock, valued at $1,317,693. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stan Musial sold 13,480 shares of Egalet Corp. stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $5.06, for a total transaction of $68,208.80. Following the sale, the chief financial officer now directly owns 84,940 shares of the company’s stock, valued at approximately $429,796.40. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Egalet Corp. stock. Omega Fund Management LLC increased its stake in shares of Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,814,928 shares of the specialty pharmaceutical company’s stock after buying an additional 169,370 shares during the period. Egalet Corp. comprises approximately 17.3% of Omega Fund Management LLC’s portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned about 11.55% of Egalet Corp. worth $31,021,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.