Egalet Corp. (EGLT) Shares Up 9.6%
Egalet Corp. (NASDAQ:EGLT) shares shot up 9.6% on Wednesday . The company traded as high as $7.83 and last traded at $7.73, with a volume of 111,384 shares trading hands. The stock had previously closed at $7.05.
A number of brokerages have recently weighed in on EGLT. Cantor Fitzgerald reissued a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.88.
The company has a 50 day moving average of $5.72 and a 200-day moving average of $6.56. The company’s market cap is $186.35 million.
Egalet Corp. (NASDAQ:EGLT) last released its earnings results on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.76) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.11. During the same period in the previous year, the firm earned ($1.02) earnings per share. The company had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.50 million. The company’s revenue for the quarter was up 237.5% compared to the same quarter last year. On average, equities research analysts predict that Egalet Corp. will post ($3.12) EPS for the current year.
In related news, CEO Robert S. Radie sold 5,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $5.07, for a total transaction of $25,350.00. Following the completion of the transaction, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at approximately $1,317,693. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert S. Radie sold 15,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at $1,302,099. 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 stake in shares of Egalet Corp. (NASDAQ:EGLT) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 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 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.
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