Investors Buy Eagle Pharmaceuticals Inc. (EGRX) on Weakness
Traders bought shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) on weakness during trading on Thursday. $46.04 million flowed into the stock on the tick-up and $4.71 million flowed out of the stock on the tick-down, for a money net flow of $41.33 million into the stock. Of all stocks tracked, Eagle Pharmaceuticals had the 35th highest net in-flow for the day. Eagle Pharmaceuticals traded down ($0.73) for the day and closed at $59.02
Several analysts recently commented on EGRX shares. Royal Bank Of Canada dropped their price objective on Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 10th. Zacks Investment Research downgraded Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Friday, July 22nd. Mizuho downgraded Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $47.00 in a research note on Monday, June 20th. Finally, TheStreet raised Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $91.94.
The stock has a market capitalization of $922.84 million and a PE ratio of 302.67. The stock has a 50-day moving average price of $53.23 and a 200-day moving average price of $48.01.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share 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. During the same period in the previous year, the firm posted ($0.53) EPS. The business’s quarterly revenue was up 581.7% compared to the same quarter last year. On average, equities analysts forecast that Eagle Pharmaceuticals Inc. will post $3.21 earnings per share for the current year.
In related news, major shareholder Proquest Investments Iv, L.P. sold 24,949 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $60.77, for a total value of $1,516,150.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
A hedge fund recently raised its stake in Eagle Pharmaceuticals stock. Bank of Montreal Can raised its stake in Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) by 62.3% during the fourth quarter, according to its most recent filing with the SEC. 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 as of its most recent SEC filing.
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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