Eagle Pharmaceuticals Inc. (EGRX) Trading Down 5.7%
Shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $44.03 and last traded at $44.28, with a volume of 258,055 shares traded. The stock had previously closed at $46.94.
EGRX has been the topic of several analyst reports. Mizuho lowered Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $47.00 in a report on Monday, June 20th. Piper Jaffray Cos. reissued an “overweight” rating and set a $98.00 target price on shares of Eagle Pharmaceuticals in a report on Thursday, April 7th. Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 4th. Finally, Royal Bank Of Canada reduced 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Eagle Pharmaceuticals has an average rating of “Buy” and a consensus price target of $88.94.
The firm’s market cap is $699.87 million. The firm’s 50 day moving average is $43.60 and its 200-day moving average is $50.10.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.52. During the same quarter in the previous year, the firm posted $1.31 EPS. The business earned $29.60 million during the quarter, compared to analysts’ expectations of $29.07 million. Eagle Pharmaceuticals’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, equities research analysts predict that Eagle Pharmaceuticals Inc. will post $3.32 EPS for the current fiscal year.
In other Eagle Pharmaceuticals news, major shareholder Proquest Management Llc sold 17,980 shares of the business’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $40.72, for a total value of $732,145.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several hedge funds have recently modified their holdings of the stock. Century Capital Management LLC raised 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 valued at $5,871,000 after buying an additional 16,942 shares during the last quarter. Turner Investments L.P. purchased a new stake in shares of Eagle Pharmaceuticals during the fourth quarter valued at about $2,350,000. Bank of Montreal Can raised its stake in shares of Eagle Pharmaceuticals by 62.3% in the fourth quarter. Bank of Montreal Can now owns 119,902 shares of the specialty pharmaceutical company’s stock valued at $10,632,000 after buying an additional 46,020 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Eagle Pharmaceuticals during the fourth quarter valued at about $6,104,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Eagle Pharmaceuticals during the fourth quarter valued at about $1,222,000.
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.
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.