Investors Buy Shares of Eagle Pharmaceuticals Inc. (EGRX) on Weakness
Investors bought shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) on weakness during trading hours 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 equities 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 recent research reports. Royal Bank Of Canada dropped their price target on shares of Eagle Pharmaceuticals from $94.00 to $78.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 10th. Mizuho restated a “buy” rating and set a $66.00 price target on shares of Eagle Pharmaceuticals in a research note on Friday, June 10th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 4th. Finally, TheStreet upgraded shares of 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 assigned a hold rating, three have given a buy rating and one has issued 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 $943.48 million and a PE ratio of 309.44. The company has a 50-day moving average price of $53.61 and a 200 day moving average price of $48.10.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The company earned $40.90 million during the quarter, compared to the consensus estimate of $43.55 million. The business’s revenue was up 581.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. On average, equities research analysts expect that Eagle Pharmaceuticals Inc. will post $3.21 earnings per share for the current fiscal year.
In related news, major shareholder Proquest Investments Iv, L.P. sold 99,795 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
An institutional investor recently raised its position in Eagle Pharmaceuticals stock. Bank of Montreal Can raised its stake in shares of 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 about 0.77% of Eagle Pharmaceuticals worth $10,632,000 at the end of the most recent reporting period.
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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