Mark Strobeck Sells 33,700 Shares of Egalet Corp. (EGLT) Stock
Egalet Corp. (NASDAQ:EGLT) COO Mark Strobeck sold 33,700 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $7.58, for a total transaction of $255,446.00. Following the transaction, the chief operating officer now directly owns 71,880 shares in the company, valued at approximately $544,850.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of 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. Egalet Corp. has a 52 week low of $4.34 and a 52 week high of $11.96. The firm’s market cap is $179.16 million.
Egalet Corp. (NASDAQ:EGLT) last released its quarterly earnings data on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.82) by $0.15. The company earned $3.45 million during the quarter, compared to analyst estimates of $3.83 million. Egalet Corp. had a negative net margin of 244.57% and a negative return on equity of 86.03%. The company’s quarterly revenue was up 259.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.03) EPS. Analysts anticipate that Egalet Corp. will post ($3.48) earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Egalet Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Cantor Fitzgerald reissued a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th. Finally, Gabelli assumed coverage on shares of Egalet Corp. in a report on Tuesday, September 13th. They issued a “buy” rating and a $9.50 price target on the stock.
Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake 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. Deerfield Management Co. increased its stake 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. Bank of New York Mellon Corp increased its stake in Egalet Corp. by 337.4% in the second quarter. Bank of New York Mellon Corp now owns 54,334 shares of the specialty pharmaceutical company’s stock valued at $270,000 after buying an additional 41,912 shares during the last quarter. California State Teachers Retirement System bought a new stake in Egalet Corp. during the second quarter valued at approximately $230,000. Finally, New Jersey Better Educational Savings Trust bought a new stake in Egalet Corp. during the second quarter valued at approximately $367,000. 67.18% of the stock is owned by institutional investors.
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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