Egalet Corporation (EGLT) Expected to Post FY2017 Earnings of ($2.89) Per Share
Egalet Corporation (NASDAQ:EGLT) – Investment analysts at Zacks Investment Research boosted their FY2017 earnings per share estimates for shares of Egalet Corporation in a research note issued on Thursday. Zacks Investment Research analyst J. Vandermosten now expects that the specialty pharmaceutical company will post earnings of ($2.89) per share for the year, up from their previous forecast of ($3.01). Zacks Investment Research also issued estimates for Egalet Corporation’s Q4 2017 earnings at ($0.37) EPS and FY2019 earnings at ($0.25) EPS.
Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 target price (down previously from $14.00) on shares of Egalet Corporation in a research report on Thursday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Egalet Corporation in a research report on Saturday, August 26th. Guggenheim set a $7.00 target price on shares of Egalet Corporation and gave the stock a “buy” rating in a research report on Monday, August 14th. Finally, Gabelli downgraded shares of Egalet Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $7.10.
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Egalet Corporation (NASDAQ EGLT) opened at $0.85 on Monday. Egalet Corporation has a 1-year low of $0.82 and a 1-year high of $10.00. The company has a debt-to-equity ratio of -3.43, a current ratio of 2.73 and a quick ratio of 2.68.
Hedge funds have recently modified their holdings of the company. KCG Holdings Inc. grew its position in shares of Egalet Corporation by 81.0% during the 1st quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock valued at $218,000 after acquiring an additional 19,116 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Egalet Corporation by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock valued at $109,000 after buying an additional 500 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Egalet Corporation during the 2nd quarter valued at $179,000. Virtu KCG Holdings LLC lifted its stake 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 valued at $189,000 after buying an additional 37,155 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust lifted its stake in shares of Egalet Corporation by 4.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 104,000 shares of the specialty pharmaceutical company’s stock valued at $246,000 after buying an additional 4,000 shares in the last quarter. 33.39% of the stock is owned by hedge funds and other institutional investors.
About Egalet Corporation
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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