Egalet Corp. (EGLT) Trading Down 5.3%
Egalet Corp. (NASDAQ:EGLT) shares were down 5.3% during trading on Monday . The company traded as low as $6.85 and last traded at $7.00, with a volume of 62,344 shares. The stock had previously closed at $7.39.
A number of research analysts have recently commented on EGLT shares. Cantor Fitzgerald reissued a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th. Zacks Investment Research cut shares of 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 given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.88.
The stock’s 50-day moving average price is $5.62 and its 200 day moving average price is $6.61. The firm’s market capitalization is $171.68 million.
Egalet Corp. (NASDAQ:EGLT) last announced its quarterly earnings data on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.11. During the same quarter in the prior year, the firm posted ($1.02) earnings per share. The firm earned $2.70 million during the quarter, compared to the consensus estimate of $3.50 million. The company’s revenue was up 237.5% on a year-over-year basis. Equities research analysts expect that Egalet Corp. will post ($3.12) earnings per share for the current year.
In other Egalet Corp. news, CEO Robert S. Radie sold 5,000 shares of Egalet Corp. stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $5.07, for a total transaction of $25,350.00. Following the completion of the transaction, the chief executive officer now owns 259,900 shares of the company’s stock, valued at approximately $1,317,693. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total value of $75,150.00. Following the transaction, 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.
A hedge fund recently raised its stake in Egalet Corp. stock. Omega Fund Management LLC increased 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. comprises about 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 as of its most recent SEC filing.
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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