Egalet Corp. (EGLT) Trading Up 3.7%
Egalet Corp. (NASDAQ:EGLT) was up 3.7% on Thursday . The company traded as high as $6.15 and last traded at $6.11, with a volume of 64,756 shares. The stock had previously closed at $5.89.
A number of equities research analysts have weighed in on EGLT shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $22.00 target price on shares of Egalet Corp. in a report on Monday, March 28th. Zacks Investment Research downgraded Egalet Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.88.
The stock’s market capitalization is $148.45 million. The company’s 50 day moving average is $5.35 and its 200-day moving average is $6.85.
Egalet Corp. (NASDAQ:EGLT) last released its 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 analysts’ expectations of $3.50 million. During the same quarter last 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. Analysts expect that Egalet Corp. will post ($3.12) EPS for the current year.
In related news, CEO Robert S. Radie sold 5,000 shares of Egalet Corp. stock in a transaction on Friday, July 1st. The stock was sold at an average price of $5.07, for a total transaction of $25,350.00. Following the transaction, the chief executive officer now directly owns 259,900 shares in the company, valued at $1,317,693. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total value of $75,150.00. Following the transaction, the chief executive officer now owns 259,900 shares in the company, valued at $1,302,099. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 filing with the SEC. The firm 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 portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned 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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