Eagle Pharmaceuticals (NASDAQ:EGRX) released its quarterly earnings results on Thursday. The specialty pharmaceutical company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.27, MarketWatch Earnings reports. The firm had revenue of $51.34 million for the quarter, compared to analysts’ expectations of $52.70 million. Eagle Pharmaceuticals had a net margin of 13.81% and a return on equity of 19.71%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share.
Shares of NASDAQ:EGRX opened at $52.23 on Friday. Eagle Pharmaceuticals has a 12-month low of $46.88 and a 12-month high of $85.66. The stock has a market cap of $715.16 million, a PE ratio of 15.50 and a beta of 1.32. The company has a current ratio of 4.22, a quick ratio of 4.09 and a debt-to-equity ratio of 0.22.
EGRX has been the topic of a number of research analyst reports. Cantor Fitzgerald cut Eagle Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Thursday. Piper Jaffray Companies cut Eagle Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $82.00 to $54.00 in a research note on Wednesday. ValuEngine cut Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 18th. Finally, BidaskClub raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, September 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $80.83.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Eagle Pharmaceuticals by 14.7% during the second quarter. BlackRock Inc. now owns 1,432,090 shares of the specialty pharmaceutical company’s stock valued at $108,351,000 after buying an additional 183,287 shares during the last quarter. Rothschild Asset Management Inc. bought a new position in shares of Eagle Pharmaceuticals during the second quarter valued at about $30,835,000. Granite Investment Partners LLC grew its stake in shares of Eagle Pharmaceuticals by 74.0% during the second quarter. Granite Investment Partners LLC now owns 198,774 shares of the specialty pharmaceutical company’s stock valued at $15,039,000 after buying an additional 84,567 shares during the last quarter. Northern Trust Corp grew its stake in shares of Eagle Pharmaceuticals by 23.0% during the second quarter. Northern Trust Corp now owns 164,571 shares of the specialty pharmaceutical company’s stock valued at $12,452,000 after buying an additional 30,773 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in shares of Eagle Pharmaceuticals during the second quarter valued at about $12,063,000.
Eagle Pharmaceuticals Company Profile
Eagle Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The company offers argatroban for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; non-alcohol docetaxel injection, a chemotherapeutic agent for breast, non-small cell lung, prostate, head, and neck cancers/gastric adenocarcinoma; and Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL).
Further Reading: Trading Strategy Examples and Plans
Receive News & Ratings for Eagle Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.