Investors Buy Shares of Eagle Pharmaceuticals Inc. (EGRX) on Weakness
Investors purchased shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) on weakness during trading on Friday. $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 companies tracked, Eagle Pharmaceuticals had the 14th highest net in-flow for the day. Eagle Pharmaceuticals traded down ($0.73) for the day and closed at $59.02
EGRX has been the topic of a number of analyst reports. Mizuho reiterated a “buy” rating and issued a $71.00 target price on shares of Eagle Pharmaceuticals in a research report on Friday, May 6th. Royal Bank Of Canada reiterated a “buy” rating and issued a $78.00 target price on shares of Eagle Pharmaceuticals in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. Finally, TheStreet upgraded shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research report 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 stock. Eagle Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $91.94.
The stock’s 50 day moving average price is $53.61 and its 200-day moving average price is $48.10. The firm has a market cap of $943.48 million and a P/E ratio of 309.44.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings results 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 business had revenue of $40.90 million for the quarter, compared to analysts’ expectations of $43.55 million. The business’s quarterly revenue was up 581.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.53) earnings per share. On average, analysts forecast that Eagle Pharmaceuticals Inc. will post $3.21 EPS for the current 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 can be accessed through this link.
A hedge fund recently raised its stake in Eagle Pharmaceuticals stock. Bank of Montreal Can raised 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 (SEC). The fund 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 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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