Egalet Corp. (EGLT) Shares Up 3.7%
Shares of Egalet Corp. (NASDAQ:EGLT) shot up 3.7% on Thursday . The stock traded as high as $6.15 and last traded at $6.11, with a volume of 64,756 shares traded. The stock had previously closed at $5.89.
Several research firms have weighed in on EGLT. Cantor Fitzgerald reissued a “buy” rating on shares of Egalet Corp. in a research report on Tuesday, June 28th. Zacks Investment Research downgraded shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.88.
The company’s 50 day moving average is $5.33 and its 200-day moving average is $6.89. The firm’s market cap is $149.43 million.
Egalet Corp. (NASDAQ:EGLT) last issued its earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.11. The company had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $3.50 million. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. Egalet Corp.’s revenue for the quarter was up 237.5% on a year-over-year basis. On average, analysts predict that Egalet Corp. will post ($3.12) earnings per share for the current fiscal year.
In other news, CFO Stan Musial sold 13,480 shares of Egalet Corp. stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $5.06, for a total transaction of $68,208.80. Following the completion of the transaction, the chief financial officer now owns 84,940 shares of the company’s stock, valued at approximately $429,796.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $5.01, for a total value of $75,150.00. Following the transaction, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at approximately $1,302,099. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Egalet Corp. stock. Omega Fund Management LLC boosted its stake in Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent Form 13F filing 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 17.3% of Omega Fund Management LLC’s holdings, making the stock its 3rd largest position. Omega Fund Management LLC owned approximately 11.55% of Egalet Corp. worth $31,021,000 at the end of the most recent quarter.
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.
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