Egalet Corp. (EGLT) Sees Unusually-High Trading Volume
Egalet Corp. (NASDAQ:EGLT) shares saw unusually-strong trading volume on Friday . Approximately 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.
A number of research analysts recently commented on EGLT shares. Zacks Investment Research lowered shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. Cantor Fitzgerald reiterated a “buy” rating on shares of Egalet Corp. in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Egalet Corp. presently has an average rating of “Hold” and a consensus price target of $15.88.
The stock has a 50-day moving average of $5.96 and a 200-day moving average of $6.58. The firm’s market cap is $199.07 million.
Egalet Corp. (NASDAQ:EGLT) last posted its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.82) by $0.15. The company had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.83 million. During the same quarter in the prior year, the firm posted ($1.03) earnings per share. The firm’s revenue for the quarter was up 259.4% compared to the same quarter last year. Equities research analysts forecast that Egalet Corp. will post ($3.21) EPS for the current year.
In related news, CFO Stan Musial sold 10,000 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $5.06, for a total value of $50,600.00. Following the sale, the chief financial officer now owns 84,940 shares of the company’s stock, valued at $429,796.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 259,900 shares in the company, valued at approximately $1,317,693. 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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