Egalet Corp. (EGLT) CFO Stan Musial Sells 13,480 Shares of Stock
Egalet Corp. (NASDAQ:EGLT) CFO Stan Musial sold 13,480 shares of Egalet Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $7.47, for a total transaction of $100,695.60. Following the completion of the sale, the chief financial officer now owns 67,980 shares of the company’s stock, valued at approximately $507,810.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Egalet Corp. (NASDAQ:EGLT) opened at 7.30 on Thursday. The stock has a 50 day moving average of $7.52 and a 200 day moving average of $6.59. The firm’s market capitalization is $179.16 million. Egalet Corp. has a 12 month low of $4.34 and a 12 month high of $11.96.
Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share 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 the consensus estimate of $3.83 million. Egalet Corp. had a negative net margin of 244.57% and a negative return on equity of 86.03%. Egalet Corp.’s quarterly revenue was up 259.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.03) EPS. On average, equities analysts predict that Egalet Corp. will post ($3.48) earnings per share for the current fiscal year.
EGLT has been the subject of several analyst reports. Gabelli initiated coverage on shares of Egalet Corp. in a research note on Tuesday, September 13th. They issued a “buy” rating and a $9.50 price objective for the company. Zacks Investment Research cut shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $21.00 price objective on shares of Egalet Corp. in a research note on Thursday, September 8th.
Institutional investors have recently bought and sold shares of the stock. Deerfield Management Co. raised its position in Egalet Corp. by 25.2% in the first quarter. Deerfield Management Co. now owns 597,123 shares of the specialty pharmaceutical company’s stock valued at $4,096,000 after buying an additional 120,000 shares during the last quarter. New Jersey Better Educational Savings Trust bought a new position in Egalet Corp. during the second quarter valued at $367,000. Janney Montgomery Scott LLC raised its position in Egalet Corp. by 2.7% in the second quarter. Janney Montgomery Scott LLC now owns 55,754 shares of the specialty pharmaceutical company’s stock valued at $614,000 after buying an additional 1,476 shares during the last quarter. Geode Capital Management LLC raised its position in Egalet Corp. by 4.0% in the first quarter. Geode Capital Management LLC now owns 59,330 shares of the specialty pharmaceutical company’s stock valued at $407,000 after buying an additional 2,300 shares during the last quarter. Finally, Omega Fund Management LLC raised its position in Egalet Corp. by 2.7% in the second quarter. Omega Fund Management LLC now owns 2,889,926 shares of the specialty pharmaceutical company’s stock valued at $14,334,000 after buying an additional 74,998 shares during the last quarter. Institutional investors own 67.18% of the company’s stock.
About Egalet Corp.
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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