Investors Buy Eagle Pharmaceuticals Inc. (EGRX) on Weakness
Investors bought shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) on weakness during trading hours 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 equities 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 research firms have recently weighed in on EGRX. Mizuho upped their price target on shares of Eagle Pharmaceuticals from $47.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. TheStreet upgraded shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $78.00 price target on shares of Eagle Pharmaceuticals in a report on Monday, June 13th. Finally, Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.94.
The company has a 50-day moving average of $53.61 and a 200 day moving average of $48.10. The firm has a market capitalization of $943.48 million and a price-to-earnings ratio of 309.44.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The business had revenue of $40.90 million for the quarter, compared to analyst estimates of $43.55 million. The firm’s quarterly revenue was up 581.7% on a year-over-year basis. On average, equities analysts forecast that Eagle Pharmaceuticals Inc. will post $3.21 EPS for the current fiscal year.
In other Eagle Pharmaceuticals news, major shareholder Proquest Investments Iv, L.P. sold 28,870 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $63.00, for a total transaction of $1,818,810.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently raised its position in Eagle Pharmaceuticals stock. Bank of Montreal Can boosted its stake in Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) by 62.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 0.77% of Eagle Pharmaceuticals worth $10,632,000 as of its most recent filing with the SEC.
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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