Eagle Pharmaceuticals Inc. (EGRX) Trading Down 5.7%
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) fell 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.
Several brokerages have recently issued reports on EGRX. Mizuho reissued a “buy” rating and set a $71.00 price objective on shares of Eagle Pharmaceuticals in a research report on Friday, May 6th. Royal Bank Of Canada reissued a “buy” rating and set a $78.00 price objective on shares of Eagle Pharmaceuticals in a research report on Monday, June 13th. Zacks Investment Research downgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Friday, July 22nd. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $98.00 price objective on shares of Eagle Pharmaceuticals in a research report on Thursday, April 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $88.94.
The firm’s 50-day moving average price is $43.65 and its 200-day moving average price is $49.83. The firm’s market capitalization is $674.54 million.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.52. The business had revenue of $29.60 million for the quarter, compared to analysts’ expectations of $29.07 million. During the same quarter last year, the firm earned $1.31 earnings per share. Eagle Pharmaceuticals’s revenue was down 18.5% on a year-over-year basis. On average, analysts forecast that Eagle Pharmaceuticals Inc. will post $3.32 EPS for the current year.
In other news, major shareholder Proquest Management Llc sold 17,980 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $40.72, for a total value of $732,145.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Other hedge funds and institutional investors have recently modified their holdings of the company. ProShare Advisors LLC purchased a new position in shares of Eagle Pharmaceuticals during the fourth quarter worth about $1,222,000. California State Teachers Retirement System increased its position in shares of Eagle Pharmaceuticals by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 15,870 shares of the specialty pharmaceutical company’s stock worth $1,407,000 after buying an additional 200 shares during the period. Turner Investments L.P. purchased a new position in shares of Eagle Pharmaceuticals during the fourth quarter worth about $2,350,000. Century Capital Management LLC increased its position 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 worth $5,871,000 after buying an additional 16,942 shares during the period. Finally, OppenheimerFunds Inc. purchased a new position in shares of Eagle Pharmaceuticals during the fourth quarter worth about $6,104,000.
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.
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