Egalet Corp. (EGLT) Shares Up 5.9%
Egalet Corp. (NASDAQ:EGLT) shot up 5.9% on Wednesday . The company traded as high as $6.48 and last traded at $6.28, with a volume of 176,921 shares changing hands. The stock had previously closed at $5.93.
A number of brokerages have weighed in on EGLT. Cantor Fitzgerald reaffirmed 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Egalet Corp. has a consensus rating of “Hold” and a consensus price target of $15.88.
The stock’s market cap is $156.52 million. The firm’s 50 day moving average is $5.41 and its 200-day moving average is $6.75.
Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings data on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.11. The firm earned $2.70 million during the quarter, compared to analysts’ expectations of $3.50 million. Egalet Corp.’s revenue for the quarter was up 237.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.02) EPS. On average, analysts forecast that Egalet Corp. will post ($3.12) earnings per share for the current year.
In other Egalet Corp. news, CFO Stan Musial sold 13,480 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $5.06, for a total transaction of $68,208.80. Following the sale, the chief financial officer now owns 84,940 shares of the company’s stock, valued at approximately $429,796.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert S. Radie sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total transaction of $75,150.00. Following the sale, the chief executive officer now directly owns 259,900 shares in the company, valued at approximately $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 raised its position in shares of 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 about 17.3% of Omega Fund Management LLC’s portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned about 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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