Egalet Corp. (EGLT) Trading Down 2.8%
Egalet Corp. (NASDAQ:EGLT)’s share price traded down 2.8% during trading on Friday . The company traded as low as $5.86 and last traded at $5.94, with a volume of 53,288 shares traded. The stock had previously closed at $6.11.
A number of research firms have commented on EGLT. Cantor Fitzgerald restated a “buy” rating and issued a $22.00 target price on shares of Egalet Corp. in a research report on Monday, March 28th. Zacks Investment Research downgraded Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.88.
The firm’s 50 day moving average price is $5.35 and its 200 day moving average price is $6.85. The stock’s market capitalization is $148.45 million.
Egalet Corp. (NASDAQ:EGLT) last released its quarterly earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.11. During the same quarter in the prior year, the company earned ($1.02) EPS. The firm earned $2.70 million during the quarter, compared to analyst estimates of $3.50 million. The business’s revenue was up 237.5% on a year-over-year basis. Equities analysts predict that Egalet Corp. will post ($3.12) EPS for the current fiscal year.
In related news, CEO Robert S. Radie sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 259,900 shares in the company, valued at approximately $1,302,099. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stan Musial sold 13,480 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here.
An institutional investor recently raised its position in Egalet Corp. stock. Omega Fund Management LLC boosted its position in Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent 13F filing with the 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 portfolio, making the stock its 3rd largest position. Omega Fund Management LLC owned about 11.55% of Egalet Corp. worth $31,021,000 as of its most recent filing with the SEC.
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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