Eagle Pharmaceuticals Inc. (EGRX) Trading 4.7% Higher
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) shares traded up 4.7% during mid-day trading on Wednesday . The stock traded as high as $46.34 and last traded at $45.88, with a volume of 179,675 shares. The stock had previously closed at $43.84.
Several research analysts recently issued reports on the company. Mizuho cut Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $47.00 in a research note on Monday, June 20th. Royal Bank Of Canada dropped their price objective on Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 10th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $98.00 price objective on shares of Eagle Pharmaceuticals in a research note on Thursday, April 7th. Finally, Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note 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 presently has a consensus rating of “Buy” and a consensus target price of $88.94.
The firm has a 50 day moving average price of $43.46 and a 200-day moving average price of $51.53. The company’s market capitalization is $717.85 million.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly 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 analysts’ expectations of $29.07 million. Eagle Pharmaceuticals’s revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. Equities research analysts forecast that Eagle Pharmaceuticals Inc. will post $4.16 EPS for the current year.
In other news, major shareholder Proquest Management Llc sold 17,980 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $40.72, for a total value of $732,145.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several large investors have made changes to their positions in EGRX. ProShare Advisors LLC acquired a new stake in shares of Eagle Pharmaceuticals during the fourth quarter worth approximately $1,222,000. California State Teachers Retirement System boosted its stake in shares of Eagle Pharmaceuticals by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 15,870 shares of the specialty pharmaceutical company’s stock worth $1,407,000 after buying an additional 200 shares during the last quarter. Turner Investments L.P. acquired a new stake in shares of Eagle Pharmaceuticals during the fourth quarter worth approximately $2,350,000. GAM Holding AG boosted its stake 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 last quarter. Finally, Century Capital Management LLC boosted its stake 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 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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