Egalet (EGLT) Announces Quarterly Earnings Results

Egalet (NASDAQ:EGLT) posted its quarterly earnings data on Monday. The specialty pharmaceutical company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.11, reports. The business had revenue of $7.80 million during the quarter, compared to analysts’ expectations of $8.54 million.

Egalet (NASDAQ EGLT) opened at $0.84 on Wednesday. The company has a quick ratio of 2.68, a current ratio of 2.73 and a debt-to-equity ratio of -3.43. Egalet has a 1 year low of $0.67 and a 1 year high of $5.60.

Several research analysts have weighed in on EGLT shares. Cantor Fitzgerald set a $7.00 price objective on Egalet and gave the stock a “buy” rating in a research report on Thursday, November 16th. Stifel Nicolaus cut Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective on the stock. in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.50.

A hedge fund recently raised its stake in Egalet stock. Goldman Sachs Group Inc. grew its position in shares of Egalet Corp (NASDAQ:EGLT) by 515.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,454 shares of the specialty pharmaceutical company’s stock after buying an additional 103,402 shares during the period. Goldman Sachs Group Inc. owned 0.29% of Egalet worth $293,000 at the end of the most recent reporting period. 36.17% of the stock is owned by institutional investors and hedge funds.

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Egalet 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.

Earnings History for Egalet (NASDAQ:EGLT)

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