Egalet Corporation (EGLT) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Egalet Corporation (NASDAQ:EGLT) in a research report sent to investors on Monday. Cantor Fitzgerald currently has a $7.00 target price on the specialty pharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. Guggenheim set a $7.00 target price on Egalet Corporation and gave the stock a buy rating in a research report on Monday. Stifel Nicolaus restated a buy rating and set a $6.00 target price (down previously from $14.00) on shares of Egalet Corporation in a research report on Thursday, August 10th. Zacks Investment Research upgraded Egalet Corporation from a hold rating to a buy rating and set a $3.50 target price for the company in a research report on Tuesday, May 9th. Gabelli upgraded Egalet Corporation from a hold rating to a buy rating and set a $9.50 target price for the company in a research report on Friday, May 12th. They noted that the move was a valuation call. Finally, JMP Securities cut their target price on Egalet Corporation from $15.00 to $6.00 and set a market outperform rating for the company in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $6.50.

Shares of Egalet Corporation (NASDAQ:EGLT) traded down 0.89% during midday trading on Monday, reaching $1.11. The company’s stock had a trading volume of 253,477 shares. Egalet Corporation has a 52-week low of $1.01 and a 52-week high of $10.00. The company’s market capitalization is $47.78 million. The stock has a 50 day moving average price of $1.56 and a 200-day moving average price of $3.33.

Egalet Corporation (NASDAQ:EGLT) last announced its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by $0.10. Egalet Corporation had a negative return on equity of 2,190.07% and a negative net margin of 444.50%. The firm had revenue of $6.26 million for the quarter, compared to analyst estimates of $6.68 million. During the same period in the previous year, the business posted ($0.97) EPS. Egalet Corporation’s revenue for the quarter was up 81.4% compared to the same quarter last year. Equities research analysts expect that Egalet Corporation will post ($2.72) EPS for the current year.

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Several institutional investors have recently bought and sold shares of EGLT. Janney Montgomery Scott LLC increased its position in Egalet Corporation by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock valued at $109,000 after buying an additional 500 shares during the period. SG Americas Securities LLC increased its position in shares of 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 valued at $155,000 after buying an additional 13,570 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Egalet Corporation during the second quarter valued at about $179,000. Virtu KCG Holdings LLC increased its position in shares of Egalet Corporation by 87.0% in the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 37,155 shares during the last quarter. Finally, KCG Holdings Inc. increased its position in shares of Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock valued at $218,000 after buying an additional 19,116 shares during the last quarter. Institutional investors and hedge funds own 38.55% of the company’s stock.

About Egalet Corporation

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.

Analyst Recommendations for Egalet Corporation (NASDAQ:EGLT)

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