Eagle Pharmaceuticals Inc. (EGRX) Shares Up 4.7%
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) shot up 4.7% during mid-day trading on Monday . The stock traded as high as $45.98 and last traded at $44.81, with a volume of 265,598 shares traded. The stock had previously closed at $42.78.
Several brokerages have recently issued reports on EGRX. Mizuho cut Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $47.00 in a report on Monday, June 20th. Royal Bank Of Canada reduced their target price on Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Eagle Pharmaceuticals in a report on Thursday, April 7th. Finally, Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $88.94.
The company’s market cap is $696.74 million. The firm has a 50 day moving average of $43.77 and a 200 day moving average of $53.82.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.52. The firm had revenue of $29.60 million for the quarter, compared to analyst estimates of $29.07 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. Equities analysts predict that Eagle Pharmaceuticals Inc. will post $4.16 EPS for the current fiscal year.
In other news, major shareholder Proquest Management Llc sold 17,980 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $40.72, for a total transaction of $732,145.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several large investors have recently bought and sold shares of EGRX. Century Capital Management LLC raised its stake in Eagle Pharmaceuticals by 34.4% in the fourth quarter. Century Capital Management LLC now owns 66,209 shares of the specialty pharmaceutical company’s stock valued at $5,871,000 after buying an additional 16,942 shares during the last quarter. Turner Investments L.P. purchased a new stake in Eagle Pharmaceuticals during the fourth quarter valued at about $2,350,000. Bank of Montreal Can raised its stake in Eagle Pharmaceuticals by 62.3% in the fourth quarter. Bank of Montreal Can now owns 119,902 shares of the specialty pharmaceutical company’s stock valued at $10,632,000 after buying an additional 46,020 shares during the last quarter. JW Asset Management LLC raised its stake in Eagle Pharmaceuticals by 1.1% in the fourth quarter. JW Asset Management LLC now owns 857,679 shares of the specialty pharmaceutical company’s stock valued at $76,050,000 after buying an additional 8,970 shares during the last quarter. Finally, GAM Holding AG raised its stake in Eagle Pharmaceuticals by 36.3% in the fourth quarter. GAM Holding AG now owns 58,200 shares of the specialty pharmaceutical company’s stock valued at $5,161,000 after buying an additional 15,500 shares during the last quarter.
Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care, orphan diseases and oncology areas. Its commercial products include Argatroban Injection, Ryanodex (dantrolene sodium) for injectable suspension, Diclofenac sodium misoprostol and Docetaxel Injection.
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