Eagle Pharmaceuticals’ (EGRX) Underperform Rating Reaffirmed at Mizuho

Eagle Pharmaceuticals Inc (NASDAQ:EGRX)‘s stock had its “underperform” rating reissued by research analysts at Mizuho in a research report issued on Thursday. They currently have a $57.00 price objective on the specialty pharmaceutical company’s stock, down from their previous price objective of $66.00. Mizuho’s target price indicates a potential downside of 22.86% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. ValuEngine raised Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. Zacks Investment Research lowered Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the stock an “overweight” rating in a research report on Tuesday, May 9th. Finally, Royal Bank of Canada boosted their target price on Eagle Pharmaceuticals from $86.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $90.00.

Analyst Recommendations for Eagle Pharmaceuticals (NASDAQ:EGRX)

Eagle Pharmaceuticals (NASDAQ:EGRX) traded down 3.26% during midday trading on Thursday, hitting $73.89. The stock had a trading volume of 453,160 shares. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 11.61 and a beta of 1.54. Eagle Pharmaceuticals has a 12-month low of $34.20 and a 12-month high of $97.15. The company has a 50-day moving average price of $86.66 and a 200-day moving average price of $78.50.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Monday, May 8th. The specialty pharmaceutical company reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.44 by $0.02. Eagle Pharmaceuticals had a return on equity of 25.63% and a net margin of 20.06%. The firm had revenue of $76.80 million during the quarter, compared to the consensus estimate of $70.10 million. During the same period in the prior year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 159.5% on a year-over-year basis. Equities analysts anticipate that Eagle Pharmaceuticals will post $3.83 EPS for the current year.

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In related news, major shareholder Proquest Investments Iv, L.P. sold 54,180 shares of the company’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $88.38, for a total transaction of $4,788,428.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard A. Edlin purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were acquired at an average cost of $79.44 per share, for a total transaction of $476,640.00. Following the completion of the transaction, the director now directly owns 29,400 shares of the company’s stock, valued at approximately $2,335,536. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 6,966 shares of company stock worth $553,560 and have sold 412,918 shares worth $34,451,889. 18.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Eagle Pharmaceuticals by 183,871.5% in the first quarter. BlackRock Inc. now owns 1,206,853 shares of the specialty pharmaceutical company’s stock worth $100,097,000 after buying an additional 1,206,197 shares during the period. Victory Capital Management Inc. increased its position in shares of Eagle Pharmaceuticals by 24.3% in the first quarter. Victory Capital Management Inc. now owns 1,072,714 shares of the specialty pharmaceutical company’s stock worth $88,971,000 after buying an additional 209,398 shares during the period. Iridian Asset Management LLC CT increased its position in shares of Eagle Pharmaceuticals by 1,804.5% in the first quarter. Iridian Asset Management LLC CT now owns 755,027 shares of the specialty pharmaceutical company’s stock worth $62,622,000 after buying an additional 715,382 shares during the period. First Eagle Investment Management LLC increased its position in shares of Eagle Pharmaceuticals by 4.1% in the first quarter. First Eagle Investment Management LLC now owns 661,005 shares of the specialty pharmaceutical company’s stock worth $54,824,000 after buying an additional 26,200 shares during the period. Finally, State Street Corp increased its position in shares of Eagle Pharmaceuticals by 16.9% in the fourth quarter. State Street Corp now owns 653,521 shares of the specialty pharmaceutical company’s stock worth $51,855,000 after buying an additional 94,563 shares during the period.

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.

12 Month Chart for NASDAQ:EGRX

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