Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Sunday.
Other analysts also recently issued research reports about the stock. Mizuho lowered their target price on shares of Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating for the company in a report on Thursday, May 25th. Piper Jaffray Companies set a $118.00 price target on shares of Eagle Pharmaceuticals and gave the company an “overweight” rating in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada set a $86.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, April 24th. Finally, ValuEngine upgraded shares of Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $90.00.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded down 1.08% during midday trading on Friday, hitting $75.73. 310,556 shares of the company were exchanged. The firm’s 50 day moving average price is $77.28 and its 200 day moving average price is $77.94. Eagle Pharmaceuticals has a one year low of $42.33 and a one year high of $97.15. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.90 and a beta of 1.48.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings data on Monday, May 8th. The specialty pharmaceutical company reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by $0.02. Eagle Pharmaceuticals had a return on equity of 79.25% and a net margin of 44.48%. The business had revenue of $76.80 million for the quarter, compared to analyst estimates of $70.10 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The business’s quarterly revenue was up 159.5% on a year-over-year basis. Analysts forecast that Eagle Pharmaceuticals will post $3.66 EPS for the current fiscal year.
In related news, CFO Pete A. Meyers purchased 350 shares of Eagle Pharmaceuticals stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the transaction, the chief financial officer now owns 350 shares in the company, valued at $25,021.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Proquest Investments Iv, L.P. sold 54,180 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $88.38, for a total transaction of $4,788,428.40. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 805 shares of company stock valued at $61,790. 19.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Eagle Pharmaceuticals during the fourth quarter valued at $1,935,000. State Board of Administration of Florida Retirement System raised its position in Eagle Pharmaceuticals by 2.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 5,305 shares of the specialty pharmaceutical company’s stock valued at $421,000 after buying an additional 150 shares during the last quarter. Comerica Bank raised its position in Eagle Pharmaceuticals by 5.2% in the fourth quarter. Comerica Bank now owns 8,445 shares of the specialty pharmaceutical company’s stock valued at $585,000 after buying an additional 415 shares during the last quarter. FMR LLC acquired a new position in shares of Eagle Pharmaceuticals during the fourth quarter worth $7,300,000. Finally, New York State Teachers Retirement System raised its position in shares of Eagle Pharmaceuticals by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 9,957 shares of the specialty pharmaceutical company’s stock worth $790,000 after buying an additional 200 shares in the last quarter.
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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.
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