Egalet Corp. (EGLT) Trading Up 4.2%
Shares of Egalet Corp. (NASDAQ:EGLT) were up 4.2% during trading on Thursday . The company traded as high as $5.37 and last traded at $5.27, with a volume of 50,189 shares. The stock had previously closed at $5.06.
A number of analysts have commented on EGLT shares. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Cantor Fitzgerald reissued a “buy” rating and issued a $22.00 target price on shares of Egalet Corp. in a report on Monday, March 28th. Finally, Janney Montgomery Scott started coverage on Egalet Corp. in a report on Monday, March 14th. They issued a “neutral” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.88.
The company has a 50 day moving average of $5.25 and a 200 day moving average of $7.03. The stock’s market capitalization is $128.88 million.
Egalet Corp. (NASDAQ:EGLT) last announced its quarterly earnings data on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.11. The firm earned $2.70 million during the quarter, compared to the consensus estimate of $3.50 million. During the same period last year, the company earned ($1.02) EPS. The firm’s revenue for the quarter was up 237.5% compared to the same quarter last year. On average, equities research analysts forecast that Egalet Corp. will post ($3.12) EPS for the current fiscal year.
In other Egalet Corp. news, CEO Robert S. Radie sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $5.01, for a total transaction of $75,150.00. Following the completion of the sale, the chief executive officer now owns 259,900 shares in the company, valued at $1,302,099. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert S. Radie sold 5,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $5.07, for a total value of $25,350.00. Following the sale, the chief executive officer now owns 259,900 shares of the company’s stock, valued at approximately $1,317,693. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Egalet Corp. stock. Omega Fund Management LLC increased its position in Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,814,928 shares of the specialty pharmaceutical company’s stock after buying an additional 169,370 shares during the period. Egalet Corp. makes up approximately 17.3% of Omega Fund Management LLC’s investment portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned approximately 11.55% of Egalet Corp. worth $31,021,000 as of its most recent SEC filing.
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.