Eagle Pharmaceuticals Inc (NASDAQ:EGRX) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $58.80.
EGRX has been the topic of a number of research analyst reports. BidaskClub raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $66.00 price target on shares of Eagle Pharmaceuticals in a research note on Sunday, August 11th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, August 14th. Finally, ValuEngine lowered shares of Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th.
In related news, Director Hudson Executive Capital Lp sold 1,112 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $60.06, for a total value of $66,786.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 31.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in EGRX. Park West Asset Management LLC grew its stake in Eagle Pharmaceuticals by 24.4% in the 2nd quarter. Park West Asset Management LLC now owns 1,300,000 shares of the specialty pharmaceutical company’s stock valued at $72,384,000 after buying an additional 254,689 shares during the last quarter. LSV Asset Management grew its position in shares of Eagle Pharmaceuticals by 200.2% during the 1st quarter. LSV Asset Management now owns 250,004 shares of the specialty pharmaceutical company’s stock worth $12,622,000 after purchasing an additional 166,715 shares in the last quarter. Invesco Ltd. grew its position in shares of Eagle Pharmaceuticals by 50.4% during the 2nd quarter. Invesco Ltd. now owns 402,792 shares of the specialty pharmaceutical company’s stock worth $22,427,000 after purchasing an additional 134,931 shares in the last quarter. Man Group plc grew its position in shares of Eagle Pharmaceuticals by 784.6% during the 2nd quarter. Man Group plc now owns 136,235 shares of the specialty pharmaceutical company’s stock worth $7,586,000 after purchasing an additional 120,835 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in shares of Eagle Pharmaceuticals by 326.8% during the 1st quarter. Federated Investors Inc. PA now owns 141,891 shares of the specialty pharmaceutical company’s stock worth $7,164,000 after purchasing an additional 108,649 shares in the last quarter. Institutional investors and hedge funds own 97.51% of the company’s stock.
Shares of EGRX stock traded down $1.59 on Friday, reaching $57.60. The stock had a trading volume of 128,430 shares, compared to its average volume of 146,708. The company has a quick ratio of 3.36, a current ratio of 3.59 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average is $56.22 and its two-hundred day moving average is $52.93. The firm has a market capitalization of $808.94 million, a price-to-earnings ratio of 27.56 and a beta of 1.42. Eagle Pharmaceuticals has a 12 month low of $36.03 and a 12 month high of $70.13.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.17. The company had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $53.61 million. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. Eagle Pharmaceuticals’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. On average, sell-side analysts forecast that Eagle Pharmaceuticals will post 2.48 earnings per share for the current fiscal year.
About Eagle Pharmaceuticals
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, an anti-coagulant thrombin inhibitor for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL); and Belrapzo, a chemotherapeutic agent for CLL and Indolent NHL.
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