Shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) have received an average rating of “Buy” from the eight analysts that are presently covering the firm. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $87.61.
A number of research firms have weighed in on EGRX. Royal Bank Of Canada reissued a “buy” rating and set a $78.00 target price on shares of Eagle Pharmaceuticals in a research report on Monday, June 13th. Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. Mizuho reissued a “buy” rating and set a $66.00 target price on shares of Eagle Pharmaceuticals in a research report on Friday, June 10th. TheStreet raised shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $80.00 target price (up previously from $78.00) on shares of Eagle Pharmaceuticals in a research report on Thursday, September 22nd.
In other Eagle Pharmaceuticals news, major shareholder Proquest Investments Iv, L.P. sold 22,100 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $70.06, for a total transaction of $1,548,326.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 18.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Eagle Pharmaceuticals by 64.3% in the first quarter. State Street Corp now owns 629,493 shares of the specialty pharmaceutical company’s stock worth $25,489,000 after buying an additional 246,262 shares in the last quarter. Cormorant Asset Management LLC boosted its position in shares of Eagle Pharmaceuticals by 25.0% in the first quarter. Cormorant Asset Management LLC now owns 500,000 shares of the specialty pharmaceutical company’s stock worth $20,250,000 after buying an additional 100,000 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Eagle Pharmaceuticals by 64.3% in the first quarter. Royal Bank of Canada now owns 11,934 shares of the specialty pharmaceutical company’s stock worth $484,000 after buying an additional 4,670 shares in the last quarter. LaSalle Street Capital Management LLC purchased a new position in shares of Eagle Pharmaceuticals during the second quarter worth about $304,000. Finally, Bank of Montreal Can purchased a new position in shares of Eagle Pharmaceuticals during the second quarter worth about $5,356,000. Institutional investors own 95.67% of the company’s stock.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) opened at 63.93 on Wednesday. The stock has a 50 day moving average of $63.46 and a 200-day moving average of $48.77. Eagle Pharmaceuticals has a 12-month low of $33.02 and a 12-month high of $102.48. The firm has a market capitalization of $999.61 million, a P/E ratio of 327.85 and a beta of 1.16.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The business earned $40.90 million during the quarter, compared to the consensus estimate of $43.55 million. Eagle Pharmaceuticals had a net margin of 3.45% and a return on equity of 3.44%. The company’s revenue for the quarter was up 581.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.53) EPS. On average, equities research analysts predict that Eagle Pharmaceuticals will post $3.21 EPS for the current fiscal year.
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 EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).
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