Egalet Corp. (EGLT) Sees Unusually-High Trading Volume
Egalet Corp. (NASDAQ:EGLT) saw an uptick in trading volume on Friday . 455,453 shares changed hands during mid-day trading, an increase of 120% from the previous session’s volume of 206,995 shares.The stock last traded at $8.47 and had previously closed at $8.40.
A number of research firms recently weighed in on EGLT. Zacks Investment Research lowered shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Cantor Fitzgerald reiterated a “buy” rating on shares of Egalet Corp. in a research report on Tuesday, June 28th.
The firm’s market capitalization is $198.80 million. The company’s 50 day moving average price is $6.44 and its 200-day moving average price is $6.59.
Egalet Corp. (NASDAQ:EGLT) last announced its quarterly earnings data on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.82) by $0.15. The business earned $3.45 million during the quarter, compared to the consensus estimate of $3.83 million. The company’s revenue for the quarter was up 259.4% on a year-over-year basis. During the same period in the prior year, the company earned ($1.03) EPS. On average, analysts expect that Egalet Corp. will post ($3.47) EPS for the current year.
In related news, CEO Robert S. Radie sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,317,693. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stan Musial sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $5.06, for a total value of $50,600.00. Following the transaction, the chief financial officer now owns 84,940 shares of the company’s stock, valued at approximately $429,796.40. 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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