Egalet Corp. (NASDAQ:EGLT) shot up 9% during mid-day trading on Wednesday . The company 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.

A number of research firms recently issued reports on EGLT. Cantor Fitzgerald restated a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th. Zacks Investment Research downgraded shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. One research 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. Egalet Corp. currently has a consensus rating of “Hold” and an average price target of $15.88.

The firm’s market capitalization is $180.97 million. The stock has a 50 day moving average of $5.58 and a 200-day moving average of $6.63.

Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings data 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 business had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.50 million. The business’s revenue for the quarter was up 237.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.02) EPS. Analysts predict that Egalet Corp. will post ($3.12) EPS for the current year.

In other Egalet Corp. news, CEO Robert S. Radie sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total transaction of $75,150.00. Following the completion of the sale, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at $1,302,099. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert S. Radie sold 5,000 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $5.07, for a total transaction of $25,350.00. Following the sale, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at $1,317,693. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Egalet Corp. stock. Omega Fund Management LLC boosted its position 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 (SEC). The fund 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 approximately 17.3% of Omega Fund Management LLC’s portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned approximately 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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