Eagle Pharmaceuticals Inc (NASDAQ:EGRX) issued its quarterly earnings results on Wednesday. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.18, Morningstar.com reports. Eagle Pharmaceuticals had a net margin of 29.85% and a return on equity of 57.82%. The business had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis.

Eagle Pharmaceuticals (EGRX) traded up 1.87% on Thursday, hitting $50.07. 618,359 shares of the stock traded hands. The stock has a 50 day moving average of $69.01 and a 200 day moving average of $76.30. The firm has a market capitalization of $765.97 million, a PE ratio of 7.87 and a beta of 1.31. Eagle Pharmaceuticals has a 52 week low of $45.05 and a 52 week high of $97.15.

Several equities research analysts have issued reports on the stock. Piper Jaffray Companies set a $118.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, July 25th. BidaskClub lowered shares of Eagle Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $94.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Mizuho lowered their price target on shares of Eagle Pharmaceuticals from $57.00 to $40.00 and set an “underperform” rating on the stock in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Eagle Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $75.40.

In other news, CFO Pete A. Meyers purchased 350 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $71.49 per share, with a total value of $25,021.50. Following the completion of the transaction, the chief financial officer now directly owns 350 shares of the company’s stock, valued at $25,021.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 805 shares of company stock worth $61,790 over the last three months. 19.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its position in Eagle Pharmaceuticals by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock worth $125,000 after buying an additional 702 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock worth $128,000 after buying an additional 202 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Eagle Pharmaceuticals by 6.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after buying an additional 120 shares during the last quarter. Mason Street Advisors LLC raised its position in Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock worth $157,000 after buying an additional 175 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Eagle Pharmaceuticals by 323.9% in the second quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 1,908 shares during the last quarter.

Eagle Pharmaceuticals declared that its board has authorized a stock repurchase program on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty pharmaceutical company to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.

Earnings History for Eagle Pharmaceuticals (NASDAQ:EGRX)

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