Egalet Corp. (NASDAQ:EGLT) was down 2.8% during mid-day trading on Friday . The stock traded as low as $5.86 and last traded at $5.94, with a volume of 53,288 shares. The stock had previously closed at $6.11.

Several equities research analysts have issued reports on EGLT shares. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $22.00 price target on shares of Egalet Corp. in a research note on Monday, March 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Egalet Corp. has an average rating of “Hold” and a consensus price target of $15.88.

The company has a 50-day moving average of $5.35 and a 200-day moving average of $6.85. The company’s market cap is $148.45 million.

Egalet Corp. (NASDAQ:EGLT) last issued its quarterly earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.11. The business earned $2.70 million during the quarter, compared to analysts’ expectations of $3.50 million. During the same quarter in the previous year, the company posted ($1.02) EPS. The company’s quarterly revenue was up 237.5% on a year-over-year basis. Analysts expect that Egalet Corp. will post ($3.12) EPS for the current year.

In other Egalet Corp. news, CFO Stan Musial sold 13,480 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $5.06, for a total value of $68,208.80. Following the completion of the sale, the chief financial officer now owns 84,940 shares in the company, valued at approximately $429,796.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert S. Radie sold 15,000 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $5.01, for a total value of $75,150.00. Following the completion of the sale, the chief executive officer now owns 259,900 shares of the company’s stock, valued at approximately $1,302,099. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Egalet Corp. stock. Omega Fund Management LLC raised 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 fund 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 about 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 at the end of the most recent quarter.

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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