Egalet Corp. (EGLT) Trading Down 5.3%
Egalet Corp. (NASDAQ:EGLT) shares dropped 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 trading hands. The stock had previously closed at $7.39.
EGLT has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Cantor Fitzgerald reiterated a “buy” rating on shares of Egalet Corp. in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $15.88.
The stock has a 50-day moving average of $5.72 and a 200 day moving average of $6.56. The stock’s market cap is $182.20 million.
Egalet Corp. (NASDAQ:EGLT) last released 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. During the same quarter in the previous year, the company posted ($1.02) EPS. The company had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $3.50 million. The business’s quarterly revenue was up 237.5% on a year-over-year basis. On average, equities analysts forecast that Egalet Corp. will post ($3.12) EPS for the current fiscal year.
In related news, CFO Stan Musial sold 13,480 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $5.06, for a total transaction of $68,208.80. Following the sale, the chief financial officer now owns 84,940 shares in the company, valued at approximately $429,796.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert S. Radie sold 5,000 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $5.07, for a total value of $25,350.00. Following the sale, the chief executive officer now owns 259,900 shares in the company, valued at approximately $1,317,693. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Egalet Corp. stock. Omega Fund Management LLC raised its stake in shares of Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 17.3% of Omega Fund Management LLC’s holdings, making the stock its 3rd largest position. Omega Fund Management LLC owned about 11.55% of Egalet Corp. worth $31,021,000 as of its most recent filing with the SEC.
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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