Egalet Corporation (EGLT) Downgraded to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Egalet Corporation (NASDAQ:EGLT) from a sell rating to a strong sell rating in a research report sent to investors on Friday, June 2nd.

Several other equities research analysts have also recently commented on EGLT. Guggenheim reaffirmed a buy rating and issued a $24.00 price objective on shares of Egalet Corporation in a research report on Saturday, March 11th. Cantor Fitzgerald set a $13.00 price objective on shares of Egalet Corporation and gave the company a buy rating in a research report on Saturday, March 11th. Zacks Investment Research raised shares of Egalet Corporation from a sell rating to a hold rating in a research report on Tuesday, March 14th. Finally, Gabelli raised shares of Egalet Corporation from a hold rating to a buy rating and set a $9.50 price objective on the stock in a research report on Friday, May 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $12.00.

Shares of Egalet Corporation (NASDAQ EGLT) opened at 2.36 on Friday. The stock has a 50 day moving average price of $2.74 and a 200-day moving average price of $4.84. The stock’s market cap is $59.08 million. Egalet Corporation has a 12-month low of $2.03 and a 12-month high of $10.00.

Egalet Corporation (NASDAQ:EGLT) last announced its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by $0.12. The firm had revenue of $5.57 million for the quarter, compared to the consensus estimate of $6.92 million. Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 494.00%. During the same period in the prior year, the business earned ($0.76) earnings per share. Equities analysts anticipate that Egalet Corporation will post ($3.50) EPS for the current fiscal year.

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In related news, CFO Stan Musial sold 8,613 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $5.04, for a total value of $43,409.52. Following the transaction, the chief financial officer now owns 45,887 shares in the company, valued at approximately $231,270.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Mark Strobeck sold 8,700 shares of the company’s 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 completion of the transaction, the chief operating officer now owns 29,480 shares in the company, valued at approximately $150,642.80. The disclosure for this sale can be found here. Insiders have sold a total of 18,655 shares of company stock worth $94,703 over the last 90 days. 13.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in EGLT. Geode Capital Management LLC increased its stake in Egalet Corporation by 3.0% in the first quarter. Geode Capital Management LLC now owns 115,147 shares of the specialty pharmaceutical company’s stock worth $587,000 after buying an additional 3,338 shares in the last quarter. Teachers Advisors LLC increased its stake in Egalet Corporation by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock worth $306,000 after buying an additional 3,666 shares in the last quarter. HighTower Advisors LLC increased its stake in Egalet Corporation by 2.0% in the first quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock worth $1,358,000 after buying an additional 5,211 shares in the last quarter. SG Americas Securities LLC increased its stake in Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 13,570 shares in the last quarter. Finally, KCG Holdings Inc. increased its stake in Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after buying an additional 19,116 shares in the last quarter. Institutional investors and hedge funds own 64.81% of the company’s stock.

Egalet Corporation Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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