Egalet Corp. (EGLT) Shares Up 4.8%
Egalet Corp. (NASDAQ:EGLT) shares traded up 4.8% during trading on Monday . The stock traded as high as $8.65 and last traded at $8.49, with a volume of 100,250 shares. The stock had previously closed at $8.10.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Cantor Fitzgerald set a $21.00 price target on shares of Egalet Corp. and gave the stock a “buy” rating in a research note on Saturday, August 6th.
The company has a 50-day moving average of $6.65 and a 200-day moving average of $6.56. The firm’s market cap is $197.33 million.
Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by $0.15. During the same quarter last year, the firm earned ($1.03) earnings per share. The firm earned $3.45 million during the quarter, compared to analyst estimates of $3.83 million. The company’s quarterly revenue was up 259.4% on a year-over-year basis. On average, analysts predict that Egalet Corp. will post ($3.47) EPS for the current fiscal year.
In related news, CFO Stan Musial sold 13,480 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $429,796.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert S. Radie sold 15,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 259,900 shares in the company, valued at approximately $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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