Egalet Corp. (EGLT) Trading Down 4%
Egalet Corp. (NASDAQ:EGLT)’s share price was down 4% during mid-day trading on Monday . The stock traded as low as $6.40 and last traded at $6.48, with a volume of 105,540 shares changing hands. The stock had previously closed at $6.75.
Several equities analysts recently issued reports on EGLT shares. Zacks Investment Research lowered shares of Egalet Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Cantor Fitzgerald restated a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.88.
The firm’s 50 day moving average is $5.44 and its 200-day moving average is $6.72. The company’s market capitalization is $163.86 million.
Egalet Corp. (NASDAQ:EGLT) last released its quarterly earnings data on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.11. During the same quarter in the prior year, the business posted ($1.02) earnings per share. The firm had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.50 million. The firm’s revenue for the quarter was up 237.5% compared to the same quarter last year. On average, analysts predict that Egalet Corp. will post ($3.12) EPS for the current year.
In other news, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction that occurred on Wednesday, July 6th. The shares were 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 directly owns 259,900 shares in the company, valued at $1,302,099. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stan Musial sold 13,480 shares of Egalet Corp. stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $5.06, for a total transaction of $68,208.80. Following the completion of the sale, the chief financial officer now owns 84,940 shares of the company’s stock, valued at $429,796.40. 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 Form 13F filing 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. comprises approximately 17.3% of Omega Fund Management LLC’s investment 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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