Egalet Corp. (EGLT) Sees Large Volume Increase
Shares of Egalet Corp. (NASDAQ:EGLT) saw unusually-high trading volume on Tuesday . Approximately 339,316 shares traded hands during trading, an increase of 40% from the previous session’s volume of 241,798 shares.The stock last traded at $9.06 and had previously closed at $8.34.
EGLT has been the subject of several analyst reports. Zacks Investment Research downgraded Egalet Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Cantor Fitzgerald restated a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th.
The company’s 50 day moving average is $7.07 and its 200-day moving average is $6.55. The firm’s market cap is $219.41 million.
Egalet Corp. (NASDAQ:EGLT) last released its quarterly earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by $0.15. The firm earned $3.45 million during the quarter, compared to analysts’ expectations of $3.83 million. During the same period last year, the firm posted ($1.03) earnings per share. The company’s quarterly revenue was up 259.4% on a year-over-year basis. Equities 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 company’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 transaction, the chief financial officer now directly owns 84,940 shares of the company’s stock, valued at approximately $429,796.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert S. Radie sold 15,000 shares of the company’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 transaction, the chief executive officer now directly owns 259,900 shares in the company, 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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