Granite Investment Partners LLC bought a new position in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 90,990 shares of the specialty pharmaceutical company’s stock, valued at approximately $7,178,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted 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 in the last quarter. BNP Paribas Arbitrage SA boosted 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 in the last quarter. Municipal Employees Retirement System of Michigan boosted 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 in the last quarter. Mason Street Advisors LLC boosted 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 in the last quarter. Finally, Bank of Montreal Can boosted 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 in the last quarter.

Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) opened at 50.07 on Friday. The stock has a market cap of $765.97 million, a price-to-earnings ratio of 7.87 and a beta of 1.31. Eagle Pharmaceuticals, Inc. has a one year low of $45.05 and a one year high of $97.15. The company has a 50 day moving average price of $68.13 and a 200-day moving average price of $76.11.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.18. Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same quarter last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities analysts predict that Eagle Pharmaceuticals, Inc. will post $3.38 earnings per share for the current fiscal year.

Eagle Pharmaceuticals announced that its board has authorized a stock buyback plan on Wednesday, August 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty pharmaceutical company to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

WARNING: This article was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/11/90990-shares-in-eagle-pharmaceuticals-inc-nasdaqegrx-acquired-by-granite-investment-partners-llc.html.

EGRX has been the topic of a number of analyst reports. BidaskClub raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada set a $86.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, April 24th. Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, July 25th. ValuEngine cut Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $75.40.

In related news, CFO Pete A. Meyers bought 350 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the acquisition, the chief financial officer now owns 350 shares of the company’s stock, valued at $25,021.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 805 shares of company stock valued at $61,790 in the last quarter. 19.50% of the stock is owned by insiders.

About Eagle Pharmaceuticals

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.

Want to see what other hedge funds are holding EGRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX).

Institutional Ownership by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

Receive News & Ratings for Eagle Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.