Egalet Corp. (EGLT) Sees Unusually-High Trading Volume
Egalet Corp. (NASDAQ:EGLT) shares saw an uptick in trading volume on Friday . 507,567 shares changed hands during trading, an increase of 293% from the previous session’s volume of 129,253 shares.The stock last traded at $8.10 and had previously closed at $7.62.
Several brokerages recently issued reports on EGLT. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Egalet Corp. in a research report on Tuesday, June 28th. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a research 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 issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $15.88.
The firm’s 50-day moving average price is $5.96 and its 200 day moving average price is $6.58. The stock’s market cap is $199.07 million.
Egalet Corp. (NASDAQ:EGLT) last released its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.82) by $0.15. During the same period in the previous year, the business posted ($1.03) EPS. The company earned $3.45 million during the quarter, compared to analysts’ expectations of $3.83 million. The company’s revenue for the quarter was up 259.4% compared to the same quarter last year. On average, equities research analysts anticipate that Egalet Corp. will post ($3.21) EPS for the current fiscal year.
In related news, CEO Robert S. Radie sold 5,000 shares of Egalet Corp. stock in a transaction on Friday, July 1st. The stock was sold at an average price of $5.07, for a total value of $25,350.00. Following the completion of the transaction, the chief executive officer now directly owns 259,900 shares in the company, valued at $1,317,693. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total value of $75,150.00. Following the completion of the transaction, the chief executive officer now owns 259,900 shares of the company’s stock, valued at $1,302,099. The disclosure for this sale can be found here.
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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