Eagle Pharmaceuticals (EGRX) Downgraded to Neutral at Cantor Fitzgerald

Cantor Fitzgerald downgraded shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from an overweight rating to a neutral rating in a research note published on Thursday morning, Marketbeat.com reports.

EGRX has been the topic of a number of other research reports. Piper Jaffray Companies lowered Eagle Pharmaceuticals from an overweight rating to a neutral rating and reduced their price objective for the stock from $82.00 to $54.00 in a research note on Wednesday. BidaskClub lowered Eagle Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, September 18th. ValuEngine lowered Eagle Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday. TheStreet raised Eagle Pharmaceuticals from a c rating to a b- rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research raised Eagle Pharmaceuticals from a hold rating to a strong-buy rating and set a $94.00 price objective on the stock in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $77.50.

Eagle Pharmaceuticals stock traded down $1.16 on Thursday, reaching $51.07. The company’s stock had a trading volume of 329,500 shares, compared to its average volume of 245,117. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.09 and a current ratio of 4.22. The firm has a market cap of $715.16 million, a P/E ratio of 15.15 and a beta of 1.32. Eagle Pharmaceuticals has a twelve month low of $46.88 and a twelve month high of $85.66.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Thursday, November 1st. The specialty pharmaceutical company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.27. The company had revenue of $51.34 million for the quarter, compared to analyst estimates of $52.70 million. Eagle Pharmaceuticals had a return on equity of 19.71% and a net margin of 13.81%. The business’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, equities research analysts predict that Eagle Pharmaceuticals will post 1.96 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY raised its position in shares of Eagle Pharmaceuticals by 22.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 3,513 shares of the specialty pharmaceutical company’s stock worth $266,000 after acquiring an additional 642 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Eagle Pharmaceuticals by 33.5% during the third quarter. State of Alaska Department of Revenue now owns 3,607 shares of the specialty pharmaceutical company’s stock worth $250,000 after acquiring an additional 905 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Eagle Pharmaceuticals by 22.5% during the second quarter. MetLife Investment Advisors LLC now owns 4,988 shares of the specialty pharmaceutical company’s stock worth $377,000 after acquiring an additional 915 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Eagle Pharmaceuticals by 400.0% during the second quarter. Macquarie Group Ltd. now owns 1,500 shares of the specialty pharmaceutical company’s stock worth $113,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Eagle Pharmaceuticals by 32.4% during the third quarter. Louisiana State Employees Retirement System now owns 4,900 shares of the specialty pharmaceutical company’s stock worth $340,000 after acquiring an additional 1,200 shares during the last quarter.

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).

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