Shares of Egalet Corp (NASDAQ:EGLT) hit a new 52-week low on Thursday . The company traded as low as $0.72 and last traded at $0.76, with a volume of 446500 shares. The stock had previously closed at $0.76.
A number of brokerages have recently weighed in on EGLT. Cantor Fitzgerald set a $7.00 price objective on shares of Egalet and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Stifel Nicolaus cut shares of Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective for the company. in a research note on Wednesday, January 3rd. Finally, 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 stock presently has an average rating of “Hold” and a consensus price target of $6.20.
The company has a debt-to-equity ratio of -3.43, a current ratio of 2.73 and a quick ratio of 2.68. The firm has a market capitalization of $36.99, a P/E ratio of -0.21 and a beta of 0.37.
Institutional investors have recently modified their holdings of the company. Virtu KCG Holdings LLC lifted 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 buying an additional 37,155 shares during the last quarter. Goldman Sachs Group Inc. increased 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 acquiring an additional 103,402 shares during the period. NJ State Employees Deferred Compensation Plan bought a new position in Egalet during the third quarter worth $435,000. Finally, Renaissance Technologies LLC increased its position in Egalet by 1,540.5% during the fourth quarter. Renaissance Technologies LLC now owns 721,800 shares of the specialty pharmaceutical company’s stock worth $722,000 after acquiring an additional 677,800 shares during the period. Institutional investors and hedge funds own 47.85% of the company’s stock.
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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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