Egalet Corp. (EGLT) Trading 9% Higher
Egalet Corp. (NASDAQ:EGLT)’s share price traded up 9% during mid-day trading on Wednesday . The stock traded as high as $7.47 and last traded at $7.40, with a volume of 87,880 shares changing hands. The stock had previously closed at $6.79.
Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “buy” rating on shares of Egalet Corp. in a research note on Tuesday, June 28th. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.88.
The firm has a 50 day moving average price of $5.50 and a 200 day moving average price of $6.62. The stock’s market cap is $180.24 million.
Egalet Corp. (NASDAQ:EGLT) last announced its quarterly 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 firm had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.50 million. During the same period last year, the business earned ($1.02) EPS. Egalet Corp.’s revenue was up 237.5% on a year-over-year basis. Equities research analysts forecast that Egalet Corp. will post ($3.12) earnings per share for the current fiscal year.
In related news, CEO Robert S. Radie sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $5.07, for a total transaction of $25,350.00. Following the completion of the sale, the chief executive officer now owns 259,900 shares of the company’s stock, valued at $1,317,693. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert S. Radie sold 15,000 shares of the firm’s stock in a transaction that occurred 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 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 shares of Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent disclosure 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. accounts for 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 reporting period.
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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