Eagle Pharmaceuticals Inc. (EGRX) Shares Up 5.3%
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX)’s share price shot up 5.3% during trading on Tuesday . The company traded as high as $41.68 and last traded at $41.51, with a volume of 245,049 shares. The stock had previously closed at $39.41.
A number of research firms have commented on EGRX. Mizuho reissued a “buy” rating and issued a $71.00 price objective on shares of Eagle Pharmaceuticals in a research note on Friday, May 6th. Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada reissued a “buy” rating and issued a $78.00 price objective on shares of Eagle Pharmaceuticals in a research note on Monday, June 13th. Finally, Piper Jaffray Cos. reduced their price objective on Eagle Pharmaceuticals from $121.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, March 18th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $88.94.
The stock’s 50-day moving average is $43.90 and its 200 day moving average is $54.31. The stock’s market cap is $673.44 million.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Monday, May 9th. The specialty pharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.52. The company earned $29.60 million during the quarter, compared to analyst estimates of $29.07 million. During the same period in the prior year, the firm posted $1.31 earnings per share. The company’s revenue was down 18.5% compared to the same quarter last year. On average, equities research analysts forecast that Eagle Pharmaceuticals Inc. will post $4.57 EPS for the current fiscal year.
In other Eagle Pharmaceuticals news, major shareholder Proquest Management Llc sold 17,980 shares of the firm’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $40.72, for a total transaction of $732,145.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of institutional investors recently bought and sold shares of the company. ProShare Advisors LLC bought a new position in Eagle Pharmaceuticals during the fourth quarter worth approximately $1,222,000. California State Teachers Retirement System raised its position in Eagle Pharmaceuticals by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 15,870 shares of the specialty pharmaceutical company’s stock worth $1,407,000 after buying an additional 200 shares during the period. Turner Investments L.P. bought a new position in Eagle Pharmaceuticals during the fourth quarter worth approximately $2,350,000. Morgan Stanley raised its position in Eagle Pharmaceuticals by 192.4% in the fourth quarter. Morgan Stanley now owns 47,523 shares of the specialty pharmaceutical company’s stock worth $4,213,000 after buying an additional 31,273 shares during the period. Finally, EAM Investors LLC raised its position in Eagle Pharmaceuticals by 16.2% in the fourth quarter. EAM Investors LLC now owns 48,624 shares of the specialty pharmaceutical company’s stock worth $4,311,000 after buying an additional 6,780 shares during the period.
Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care, orphan diseases and oncology areas. Its commercial products include Argatroban Injection, Ryanodex (dantrolene sodium) for injectable suspension, Diclofenac sodium misoprostol and Docetaxel Injection.