Eagle Pharmaceuticals Inc. (EGRX) Shares Down 4.5%
Shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) dropped 4.5% on Wednesday . The company traded as low as $59.20 and last traded at $59.44, with a volume of 268,837 shares changing hands. The stock had previously closed at $62.27.
EGRX has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price objective on Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating for the company 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 cut shares of Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $66.00 to $47.00 in a research report on Monday, June 20th. Finally, TheStreet raised shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $91.94.
The company has a market cap of $901.42 million and a P/E ratio of 295.64. The stock has a 50-day moving average price of $50.58 and a 200-day moving average price of $47.72.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data 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 the consensus estimate of $43.55 million. The business’s revenue was up 581.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.53) earnings per share. Equities analysts forecast that Eagle Pharmaceuticals Inc. will post $3.21 earnings per share for the current fiscal year.
In other news, major shareholder Proquest Investments Iv, L.P. sold 99,795 shares of Eagle Pharmaceuticals stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $61.36, for a total transaction of $6,123,421.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A hedge fund recently raised its stake in Eagle Pharmaceuticals stock. Bank of Montreal Can increased its position in Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) by 62.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 quarter.
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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