Bank of New York Mellon Corp Increases Stake in Eagle Pharmaceuticals Inc. (EGRX)
Bank of New York Mellon Corp raised its position in Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,540 shares of the specialty pharmaceutical company’s stock after buying an additional 658 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of Eagle Pharmaceuticals worth $1,611,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Cormorant Asset Management LLC raised its stake in Eagle Pharmaceuticals by 25.0% in the first quarter. Cormorant Asset Management LLC now owns 500,000 shares of the specialty pharmaceutical company’s stock worth $20,250,000 after buying an additional 100,000 shares during the period. Alps Advisors Inc. acquired a new stake in Eagle Pharmaceuticals during the second quarter worth $852,000. Royal Bank of Canada raised its stake in Eagle Pharmaceuticals by 64.3% in the first quarter. Royal Bank of Canada now owns 11,934 shares of the specialty pharmaceutical company’s stock worth $484,000 after buying an additional 4,670 shares during the period. State Street Corp raised its stake in Eagle Pharmaceuticals by 64.3% in the first quarter. State Street Corp now owns 629,493 shares of the specialty pharmaceutical company’s stock worth $25,489,000 after buying an additional 246,262 shares during the period. Finally, American Century Companies Inc. raised its stake in Eagle Pharmaceuticals by 6.1% in the second quarter. American Century Companies Inc. now owns 114,901 shares of the specialty pharmaceutical company’s stock worth $4,457,000 after buying an additional 6,567 shares during the period. 95.67% of the stock is owned by institutional investors.
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) traded down 0.73% during trading on Friday, hitting $63.93. 326,688 shares of the stock traded hands. The company has a market cap of $999.61 million, a P/E ratio of 327.85 and a beta of 1.16. The company’s 50 day moving average price is $63.46 and its 200 day moving average price is $48.77. Eagle Pharmaceuticals Inc. has a 12 month low of $33.02 and a 12 month high of $102.48.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings data 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 firm earned $40.90 million during the quarter, compared to the consensus estimate of $43.55 million. Eagle Pharmaceuticals had a return on equity of 3.44% and a net margin of 3.45%. The company’s quarterly revenue was up 581.7% on a year-over-year basis. During the same period last year, the company earned ($0.53) EPS. On average, equities research analysts anticipate that Eagle Pharmaceuticals Inc. will post $3.21 EPS for the current fiscal year.
A number of analysts recently weighed in on EGRX shares. Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Friday, July 22nd. Mizuho downgraded shares of Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $47.00 in a report on Monday, June 20th. RBC Capital Markets reiterated an “outperform” rating and issued a $80.00 target price (up from $78.00) on shares of Eagle Pharmaceuticals in a report on Thursday, September 22nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $78.00 target price on shares of Eagle Pharmaceuticals in a report on Monday, June 13th. Finally, TheStreet upgraded shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.24.
In related news, major shareholder Proquest Investments Iv, L.P. sold 22,100 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $70.06, for a total transaction of $1,548,326.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.80% of the company’s stock.
About Eagle Pharmaceuticals
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).
Want to see what other hedge funds are holding EGRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Pharmaceuticals Inc. (NASDAQ:EGRX).
Receive News & Ratings for Eagle Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.