Egalet Corp. (EGLT) Shares Down 4.5%
Egalet Corp. (NASDAQ:EGLT) fell 4.5% during trading on Wednesday . The company traded as low as $6.94 and last traded at $6.96, with a volume of 73,425 shares trading hands. The stock had previously closed at $7.29.
A number of research firms have recently commented on EGLT. Zacks Investment Research cut Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Cantor Fitzgerald set a $21.00 target price on Egalet Corp. and gave the company a “buy” rating in a research report on Saturday, August 6th.
The stock’s market cap is $168.36 million. The stock has a 50 day moving average of $7.39 and a 200-day moving average of $6.53.
Egalet Corp. (NASDAQ:EGLT) last released its 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 company had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.83 million. Egalet Corp.’s revenue was up 259.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.03) EPS. On average, equities analysts anticipate that Egalet Corp. will post ($3.47) earnings per share for the current year.
In other Egalet Corp. news, CEO Robert S. Radie sold 5,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $5.07, for a total value of $25,350.00. Following the sale, the chief executive officer now owns 259,900 shares of the company’s stock, valued at approximately $1,317,693. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert S. Radie sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total transaction of $75,150.00. Following the completion of 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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