$8.54 Million in Sales Expected for Egalet Corp (EGLT) This Quarter

Equities analysts expect that Egalet Corp (NASDAQ:EGLT) will report $8.54 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Egalet’s earnings, with estimates ranging from $8.28 million to $8.80 million. Egalet reported sales of $6.14 million in the same quarter last year, which would suggest a positive year over year growth rate of 39.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Egalet will report full-year sales of $8.54 million for the current fiscal year, with estimates ranging from $26.00 million to $27.10 million. For the next financial year, analysts anticipate that the firm will report sales of $44.90 million per share, with estimates ranging from $36.00 million to $53.90 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Egalet.

Egalet (NASDAQ:EGLT) last posted its earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.01.

EGLT has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective on the stock. in a research note on Wednesday, January 3rd. Cantor Fitzgerald set a $7.00 price objective on Egalet and gave the stock a “buy” rating in a research note on Friday, December 15th. Finally, Gabelli lowered Egalet from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Egalet currently has a consensus rating of “Hold” and a consensus price target of $6.20.

Institutional investors have recently bought and sold shares of the company. Virtu KCG Holdings LLC increased its stake in shares of Egalet by 87.0% in the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 37,155 shares during the period. Goldman Sachs Group Inc. grew its position in Egalet by 515.7% during the second quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock worth $293,000 after buying an additional 103,402 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in Egalet during the third quarter worth about $435,000. Finally, HighTower Advisors LLC grew its position in Egalet by 0.9% during the second quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock worth $636,000 after buying an additional 2,408 shares in the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

Egalet (NASDAQ EGLT) traded down $0.03 during midday trading on Friday, reaching $0.87. The company’s stock had a trading volume of 432,768 shares, compared to its average volume of 977,193. Egalet has a one year low of $0.80 and a one year high of $5.60. The company has a current ratio of 2.73, a quick ratio of 2.68 and a debt-to-equity ratio of -3.43. The company has a market capitalization of $40.52, a price-to-earnings ratio of -0.26 and a beta of 0.37.

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About Egalet

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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Earnings History and Estimates for Egalet (NASDAQ:EGLT)

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