Research Analysts Set Expectations for Egalet Corp’s FY2017 Earnings (EGLT)

Egalet Corp (NASDAQ:EGLT) – Research analysts at Cantor Fitzgerald lifted their FY2017 EPS estimates for shares of Egalet Corp in a report issued on Tuesday, Zacks Investment Research reports. Cantor Fitzgerald analyst C. Russo now forecasts that the specialty pharmaceutical company will earn ($2.93) per share for the year, up from their prior estimate of ($3.08). Cantor Fitzgerald has a “Buy” rating and a $13.00 price target on the stock.

Egalet Corp (NASDAQ:EGLT) last issued its quarterly earnings data on Thursday, March 9th. The specialty pharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.05. Egalet Corp had a negative net margin of 251.79% and a negative return on equity of 127.84%. The firm earned $6.14 million during the quarter, compared to the consensus estimate of $5.37 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was down 68.3% compared to the same quarter last year.

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Other equities analysts also recently issued reports about the stock. Guggenheim reaffirmed a “buy” rating and set a $24.00 price objective on shares of Egalet Corp in a report on Saturday, March 11th. Zacks Investment Research raised shares of Egalet Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Gabelli downgraded shares of Egalet Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Finally, JMP Securities reissued an “outperform” rating and issued a $15.00 price target on shares of Egalet Corp in a research note on Wednesday, January 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.38.

Shares of Egalet Corp (NASDAQ:EGLT) traded up 0.47% during midday trading on Thursday, hitting $4.24. 142,100 shares of the stock were exchanged. Egalet Corp has a 12 month low of $4.04 and a 12 month high of $10.00. The firm’s 50-day moving average is $4.66 and its 200-day moving average is $6.10. The stock’s market cap is $104.49 million.

In other Egalet Corp news, CFO Stan Musial sold 8,613 shares of Egalet Corp stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $5.04, for a total transaction of $43,409.52. Following the completion of the sale, the chief financial officer now directly owns 45,887 shares in the company, valued at $231,270.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark Strobeck sold 8,700 shares of Egalet Corp stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $5.11, for a total transaction of $44,457.00. Following the sale, the chief operating officer now owns 29,480 shares of the company’s stock, valued at $150,642.80. The disclosure for this sale can be found here. Insiders have sold 22,905 shares of company stock worth $114,890 over the last ninety days. 13.20% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in EGLT. Wasatch Advisors Inc. boosted its stake in shares of Egalet Corp by 7.7% in the third quarter. Wasatch Advisors Inc. now owns 892,193 shares of the specialty pharmaceutical company’s stock worth $6,790,000 after buying an additional 63,550 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Egalet Corp by 14.8% in the fourth quarter. Federated Investors Inc. PA now owns 2,380,600 shares of the specialty pharmaceutical company’s stock worth $18,212,000 after buying an additional 307,600 shares in the last quarter. Tyers Asset Management LLC bought a new stake in shares of Egalet Corp during the fourth quarter worth $307,000. Flinton Capital Management LLC bought a new stake in shares of Egalet Corp during the fourth quarter worth $373,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Egalet Corp during the fourth quarter worth $194,000. Institutional investors and hedge funds own 69.79% of the company’s stock.

About Egalet Corp

Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.

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