Eagle Pharmaceuticals Inc. (EGRX) Trading Up 4.7%
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) shares were up 4.7% during trading on Monday . The company traded as high as $45.98 and last traded at $44.81, with a volume of 265,598 shares trading hands. The stock had previously closed at $42.78.
A number of research analysts have recently commented on EGRX shares. Mizuho cut their price objective on shares of Eagle Pharmaceuticals from $81.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, March 18th. Royal Bank Of Canada cut their price objective on shares of Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating for the company in a research report on Tuesday, May 10th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $98.00 price target on shares of Eagle Pharmaceuticals in a research report on Thursday, April 7th. Finally, Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.94.
The stock has a 50-day moving average of $43.65 and a 200-day moving average of $52.87. The firm’s market capitalization is $701.35 million.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.52. The company had revenue of $29.60 million for the quarter, compared to analyst estimates of $29.07 million. During the same period in the prior year, the business posted $1.31 earnings per share. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, equities research analysts expect that Eagle Pharmaceuticals Inc. will post $4.16 EPS for the current fiscal year.
In related news, major shareholder Proquest Management Llc sold 17,980 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $40.72, for a total value of $732,145.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds and institutional investors have recently made changes to their positions in the company. OppenheimerFunds Inc. purchased a new position in shares of Eagle Pharmaceuticals during the fourth quarter worth approximately $6,104,000. EAM Investors LLC increased its position in shares of Eagle Pharmaceuticals by 16.2% in the fourth quarter. EAM Investors LLC now owns 48,624 shares of the specialty pharmaceutical company’s stock worth $4,311,000 after buying an additional 6,780 shares during the period. GAM Holding AG increased its position in shares of Eagle Pharmaceuticals by 36.3% in the fourth quarter. GAM Holding AG now owns 58,200 shares of the specialty pharmaceutical company’s stock worth $5,161,000 after buying an additional 15,500 shares during the period. Russell Frank Co increased its position in shares of Eagle Pharmaceuticals by 38.7% in the fourth quarter. Russell Frank Co now owns 71,401 shares of the specialty pharmaceutical company’s stock worth $6,371,000 after buying an additional 19,938 shares during the period. Finally, Century Capital Management LLC increased its position in shares of 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 worth $5,871,000 after buying an additional 16,942 shares during the period.
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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