Eagle Pharmaceuticals Inc (EGRX) Major Shareholder Sells $8,206,000.00 in Stock

Eagle Pharmaceuticals Inc (NASDAQ:EGRX) major shareholder Proquest Investments Iv, L.P. sold 100,000 shares of Eagle Pharmaceuticals stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $82.06, for a total transaction of $8,206,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Proquest Investments Iv, L.P. also recently made the following trade(s):

  • On Wednesday, January 4th, Proquest Investments Iv, L.P. sold 65,114 shares of Eagle Pharmaceuticals stock. The stock was sold at an average price of $85.16, for a total transaction of $5,545,108.24.

Shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) traded up 2.57% during mid-day trading on Monday, reaching $83.36. 352,494 shares of the company’s stock traded hands. The firm has a 50-day moving average of $74.32 and a 200 day moving average of $71.27. The company has a market cap of $1.28 billion, a P/E ratio of 16.81 and a beta of 1.54. Eagle Pharmaceuticals Inc has a 12-month low of $33.02 and a 12-month high of $87.78.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Wednesday, March 1st. The specialty pharmaceutical company reported $3.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.82 by $0.70. The company earned $81.10 million during the quarter, compared to the consensus estimate of $86.13 million. Eagle Pharmaceuticals had a net margin of 20.06% and a return on equity of 25.63%. The firm’s revenue for the quarter was up 345.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities analysts forecast that Eagle Pharmaceuticals Inc will post $3.79 EPS for the current year.

Insider Buying and Selling by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

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Several analysts have weighed in on the stock. Mizuho reiterated an “underperform” rating and issued a $66.00 price objective on shares of Eagle Pharmaceuticals in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Eagle Pharmaceuticals in a research note on Thursday, March 2nd. Finally, Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, January 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $84.80.

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Eagle Pharmaceuticals during the fourth quarter valued at approximately $203,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter valued at approximately $222,000. Louisiana State Employees Retirement System purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter valued at approximately $245,000. Affinity Investment Advisors LLC purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter valued at approximately $274,000. Finally, Arizona State Retirement System purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter valued at approximately $287,000.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).

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