Egalet Corp. (EGLT) Shares Up 5.9%
Egalet Corp. (NASDAQ:EGLT)’s share price shot up 5.9% during trading on Wednesday . The stock traded as high as $6.48 and last traded at $6.28, with a volume of 176,921 shares trading hands. The stock had previously closed at $5.93.
Several research firms have commented on EGLT. Cantor Fitzgerald reiterated a “buy” rating and issued a $22.00 target price on shares of Egalet Corp. in a research report on Monday, March 28th. Zacks Investment Research downgraded Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. One equities research 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. Egalet Corp. presently has an average rating of “Hold” and an average price target of $15.88.
The company’s market capitalization is $156.03 million. The firm’s 50 day moving average is $5.38 and its 200 day moving average is $6.75.
Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.11. During the same quarter in the previous year, the company earned ($1.02) EPS. The company earned $2.70 million during the quarter, compared to analysts’ expectations of $3.50 million. The business’s quarterly revenue was up 237.5% on a year-over-year basis. Equities 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 the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $5.07, for a total value of $25,350.00. Following the sale, the chief executive officer now owns 259,900 shares in the company, valued at approximately $1,317,693. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stan Musial sold 13,480 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $5.06, for a total value of $68,208.80. Following the completion of the sale, the chief financial officer now owns 84,940 shares in the company, valued at approximately $429,796.40. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Egalet Corp. stock. Omega Fund Management LLC increased its stake in Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,814,928 shares of the specialty pharmaceutical company’s stock after buying an additional 169,370 shares during the period. Egalet Corp. makes up about 17.3% of Omega Fund Management LLC’s investment portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned approximately 11.55% of Egalet Corp. worth $31,021,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.