Egalet (EGLT) Downgraded by Stifel Nicolaus to “Hold”
Stifel Nicolaus lowered shares of Egalet (NASDAQ:EGLT) from a buy rating to a hold rating in a report published on Wednesday morning. The brokerage currently has $1.50 price objective on the specialty pharmaceutical company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald set a $7.00 price target on shares of Egalet and gave the stock a buy rating in a research note on Friday, December 15th. Gabelli cut shares of Egalet from a buy rating to a hold rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $6.20.
Egalet (NASDAQ EGLT) traded up $0.07 during trading hours on Wednesday, hitting $1.14. 2,081,800 shares of the stock were exchanged, compared to its average volume of 2,543,067. The company has a debt-to-equity ratio of -3.43, a quick ratio of 2.68 and a current ratio of 2.73. Egalet has a fifty-two week low of $0.80 and a fifty-two week high of $10.00. The firm has a market cap of $46.90, a PE ratio of -0.34 and a beta of 0.44.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC grew its stake in Egalet by 87.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after acquiring an additional 37,155 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Egalet by 515.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after acquiring an additional 103,402 shares during the last quarter. HighTower Advisors LLC grew its stake in Egalet by 0.9% in the 2nd quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after acquiring an additional 2,408 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in Egalet in the 3rd quarter valued at about $435,000. Finally, GMT Capital Corp acquired a new stake in Egalet in the 2nd quarter valued at about $1,281,000. 54.05% of the stock is currently owned by hedge funds and other institutional investors.
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Egalet 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.
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