Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) had its price objective lowered by Mizuho from $40.00 to $37.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. Mizuho currently has an underperform rating on the specialty pharmaceutical company’s stock.
Several other equities analysts have also commented on the company. BidaskClub raised Eagle Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, June 21st. Zacks Investment Research raised Eagle Pharmaceuticals from a strong sell rating to a hold rating in a research note on Monday, July 10th. Royal Bank Of Canada set a $94.00 price target on Eagle Pharmaceuticals and gave the company a buy rating in a research note on Sunday, July 16th. ValuEngine raised Eagle Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, May 16th. Finally, Piper Jaffray Companies set a $118.00 price target on Eagle Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $74.80.
Shares of Eagle Pharmaceuticals (NASDAQ EGRX) opened at 59.16 on Wednesday. Eagle Pharmaceuticals has a 1-year low of $45.05 and a 1-year high of $97.15. The firm has a 50-day moving average price of $54.85 and a 200-day moving average price of $74.10. The stock has a market cap of $897.40 million, a price-to-earnings ratio of 9.93 and a beta of 1.30.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.18. Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The business had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same period last year, the company earned $0.80 EPS. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities analysts forecast that Eagle Pharmaceuticals will post $3.70 EPS for the current year.
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Eagle Pharmaceuticals declared that its board has initiated a stock buyback program on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty pharmaceutical company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other news, Director Douglas L. Braunstein bought 20,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $49.07 per share, with a total value of $1,001,028.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Pete A. Meyers bought 350 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $25,021.50. Following the purchase, the chief financial officer now owns 350 shares in the company, valued at approximately $25,021.50. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 21,100 shares of company stock worth $1,045,457. 19.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of EGRX. State of Alaska Department of Revenue lifted its stake in Eagle Pharmaceuticals by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock worth $125,000 after acquiring an additional 702 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Eagle Pharmaceuticals by 15.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock worth $128,000 after acquiring an additional 202 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Eagle Pharmaceuticals by 6.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after acquiring an additional 120 shares in the last quarter. Mason Street Advisors LLC lifted its stake in Eagle Pharmaceuticals by 10.2% during the 1st quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock worth $157,000 after acquiring an additional 175 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Eagle Pharmaceuticals by 323.9% during the 2nd quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock worth $197,000 after acquiring an additional 1,908 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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