Egalet (NASDAQ:EGLT) – Equities researchers at Cantor Fitzgerald increased their FY2018 earnings per share (EPS) estimates for Egalet in a research report issued on Tuesday, March 13th, according to Zacks Investment Research. Cantor Fitzgerald analyst L. Chen now expects that the specialty pharmaceutical company will post earnings per share of ($0.99) for the year, up from their prior forecast of ($1.04). Cantor Fitzgerald has a “Overweight” rating and a $3.50 price objective on the stock.
Separately, Stifel Nicolaus cut shares of Egalet from a “buy” rating to a “hold” rating and set a $1.50 target price for the company. in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $5.50.
Shares of Egalet stock traded down $0.02 during trading on Friday, hitting $0.61. 336,228 shares of the company’s stock were exchanged, compared to its average volume of 1,474,312. The company has a debt-to-equity ratio of -2.51, a current ratio of 2.37 and a quick ratio of 2.30. Egalet has a 52-week low of $0.55 and a 52-week high of $4.61. The stock has a market cap of $29.96, a PE ratio of -0.25 and a beta of 0.69.
Egalet (NASDAQ:EGLT) last posted its quarterly earnings results on Monday, March 12th. The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.11. The company had revenue of $7.80 million during the quarter, compared to analysts’ expectations of $8.54 million.
A hedge fund recently raised its stake in Egalet stock. Renaissance Technologies LLC raised its position in Egalet (NASDAQ:EGLT) by 1,540.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 721,800 shares of the specialty pharmaceutical company’s stock after buying an additional 677,800 shares during the period. Renaissance Technologies LLC owned about 1.57% of Egalet worth $722,000 at the end of the most recent quarter. 35.37% of the stock is owned by institutional investors and hedge funds.
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Egalet Corporation, a specialty pharmaceutical company, develops, manufactures, and commercializes treatments for patients with pain and other conditions. It has licensed three approved pain products, such as SPRIX Nasal Spray, a non-steroidal anti-inflammatory drug indicated in adult patients for the short-term management of moderate to moderately severe pain that requires analgesia at the opioid level; OXAYDO, an immediate-release oxycodone product designed to discourage abuse via snorting for the management of acute and chronic moderate to severe pain where an opioid is appropriate; and ARYMO ER, an extended-release (ER) morphine product formulated with abuse-deterrent (AD) properties for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.
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