Royal Bank Of Canada Reaffirms “Outperform” Rating for Eagle Pharmaceuticals, Inc. (EGRX)

Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $75.00 target price on the specialty pharmaceutical company’s stock, down from their previous target price of $81.00. Royal Bank Of Canada’s price objective indicates a potential upside of 35.62% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. BidaskClub cut shares of Eagle Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Mizuho cut their target price on shares of Eagle Pharmaceuticals from $57.00 to $40.00 and set an “underperform” rating for the company in a research note on Thursday, July 27th. Piper Jaffray Companies set a $118.00 target price on shares of Eagle Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, ValuEngine cut shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $62.33.

Eagle Pharmaceuticals (EGRX) traded up $1.87 during midday trading on Thursday, hitting $55.30. 306,000 shares of the stock were exchanged, compared to its average volume of 348,552. The company has a current ratio of 5.30, a quick ratio of 3.76 and a debt-to-equity ratio of 0.26. The firm has a market cap of $797.26, a PE ratio of 8.43 and a beta of 1.23. Eagle Pharmaceuticals has a one year low of $45.05 and a one year high of $97.15.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.18). The company had revenue of $50.10 million for the quarter, compared to analyst estimates of $52.52 million. Eagle Pharmaceuticals had a return on equity of 62.60% and a net margin of 36.95%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. equities analysts anticipate that Eagle Pharmaceuticals will post 3.59 EPS for the current fiscal year.

Eagle Pharmaceuticals declared that its board has approved a share repurchase program on Wednesday, August 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty pharmaceutical company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new position in Eagle Pharmaceuticals during the second quarter worth about $144,384,000. BlackRock Inc. increased its position in Eagle Pharmaceuticals by 183,871.5% during the first quarter. BlackRock Inc. now owns 1,206,853 shares of the specialty pharmaceutical company’s stock worth $100,097,000 after acquiring an additional 1,206,197 shares during the period. Victory Capital Management Inc. increased its position in Eagle Pharmaceuticals by 1.0% during the third quarter. Victory Capital Management Inc. now owns 977,950 shares of the specialty pharmaceutical company’s stock worth $58,325,000 after acquiring an additional 9,571 shares during the period. Thrivent Financial For Lutherans increased its position in Eagle Pharmaceuticals by 17,917.8% during the second quarter. Thrivent Financial For Lutherans now owns 828,820 shares of the specialty pharmaceutical company’s stock worth $65,386,000 after acquiring an additional 824,220 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in Eagle Pharmaceuticals by 17.2% during the third quarter. Iridian Asset Management LLC CT now owns 814,214 shares of the specialty pharmaceutical company’s stock worth $48,560,000 after acquiring an additional 119,327 shares during the period.

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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