Egalet Corporation (EGLT) Trading 6.9% Higher
Shares of Egalet Corporation (NASDAQ:EGLT) were up 6.9% on Friday . The company traded as high as $1.42 and last traded at $1.40. Approximately 670,503 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 619,652 shares. The stock had previously closed at $1.31.
A number of analysts have recently weighed in on EGLT shares. Cantor Fitzgerald restated a “buy” rating and issued a $8.00 target price on shares of Egalet Corporation in a research note on Thursday, June 1st. Gabelli upgraded Egalet Corporation from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Friday, May 12th. They noted that the move was a valuation call. Guggenheim set a $7.00 target price on Egalet Corporation and gave the company a “buy” rating in a research note on Monday, August 14th. Stifel Nicolaus restated a “buy” rating and issued a $6.00 target price (down from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. Finally, JMP Securities lowered their target price on Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating for the company in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $6.50.
The firm’s market capitalization is $36.77 million. The firm’s 50 day moving average price is $1.21 and its 200 day moving average price is $2.90.
Egalet Corporation (NASDAQ:EGLT) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by $0.10. Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 444.50%. The firm had revenue of $6.26 million for the quarter, compared to analysts’ expectations of $6.68 million. During the same quarter last year, the company posted ($0.97) EPS. The firm’s revenue was up 81.4% on a year-over-year basis. Equities research analysts predict that Egalet Corporation will post ($2.75) EPS for the current year.
Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of Egalet Corporation by 515.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock worth $293,000 after acquiring an additional 103,402 shares during the period. HighTower Advisors LLC grew its holdings in shares of Egalet Corporation by 0.9% during the 2nd quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock worth $636,000 after acquiring an additional 2,408 shares during the period. GMT Capital Corp purchased a new position in shares of Egalet Corporation during the 2nd quarter worth approximately $1,281,000. Virtu KCG Holdings LLC grew its holdings in shares of Egalet Corporation by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after acquiring an additional 37,155 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Egalet Corporation during the 2nd quarter worth approximately $179,000. Hedge funds and other institutional investors own 32.61% of the company’s stock.
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Egalet Corporation Company Profile
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.