Egalet Corp. (EGLT) Shares Down 2.8%
Shares of Egalet Corp. (NASDAQ:EGLT) were down 2.8% during trading on Wednesday . The company traded as low as $8.63 and last traded at $8.69, with a volume of 134,164 shares traded. The stock had previously closed at $8.94.
A number of analysts recently commented on EGLT shares. Cantor Fitzgerald set a $21.00 price objective on Egalet Corp. and gave the stock a “buy” rating in a research report on Saturday, August 6th. Zacks Investment Research cut Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th.
The company’s market capitalization is $187.02 million. The company has a 50 day moving average price of $7.24 and a 200-day moving average price of $6.57.
Egalet Corp. (NASDAQ:EGLT) last announced its quarterly earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.82) by $0.15. The business earned $3.45 million during the quarter, compared to the consensus estimate of $3.83 million. The business’s revenue for the quarter was up 259.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.03) EPS. On average, equities analysts expect that Egalet Corp. will post ($3.47) earnings per share for the current year.
In other Egalet Corp. news, 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 transaction of $75,150.00. Following the completion of the transaction, the chief executive officer now owns 259,900 shares in the company, valued at approximately $1,302,099. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $25,350.00. Following the transaction, 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.
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.