Eagle Pharmaceuticals Inc. (EGRX) Stock Price Up 3.8%
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX)’s share price rose 3.8% during trading on Tuesday . The company traded as high as $63.48 and last traded at $62.21, with a volume of 855,930 shares traded. The stock had previously closed at $59.91.
EGRX has been the topic of a number of research reports. Royal Bank Of Canada cut their price objective on Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. Zacks Investment Research downgraded Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Friday, July 22nd. Mizuho downgraded Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $66.00 to $47.00 in a report on Monday, June 20th. Finally, TheStreet upgraded Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $91.94.
The company’s 50 day moving average is $49.77 and its 200 day moving average is $47.62. The company has a market cap of $973.65 million and a price-to-earnings ratio of 319.33.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The company had revenue of $40.90 million for the quarter, compared to analyst estimates of $43.55 million. The firm’s revenue for the quarter was up 581.7% on a year-over-year basis. During the same period last year, the firm earned ($0.53) earnings per share. Analysts predict that Eagle Pharmaceuticals Inc. will post $3.21 earnings per share for the current year.
In other news, major shareholder Proquest Investments Iv, L.P. sold 24,949 shares of Eagle Pharmaceuticals stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.77, for a total transaction of $1,516,150.73. The sale was disclosed in a filing with the SEC, which is available at this link.
A hedge fund recently raised its stake in Eagle Pharmaceuticals stock. Bank of Montreal Can raised its position in shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) by 62.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,902 shares of the specialty pharmaceutical company’s stock after buying an additional 46,020 shares during the period. Bank of Montreal Can owned about 0.77% of Eagle Pharmaceuticals worth $10,632,000 at the end of the most recent reporting period.
Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).
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