Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday.
According to Zacks, “Eagle Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The Company markets EP-1101 to treat heparin-induced thrombocytopenia. It develops EP-3101, EP-3102, Ryanodex and EP-4104. Eagle Pharmaceuticals, Inc. is based in Woodcliff Lake, New Jersey. “
Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $86.00 target price on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, April 24th. Piper Jaffray Companies set a $118.00 target price on shares of Eagle Pharmaceuticals and gave the company an “overweight” rating in a research report on Tuesday, May 9th. ValuEngine upgraded shares of Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. BidaskClub cut shares of Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Mizuho dropped their target price on shares of Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating for the company in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $84.00.
Eagle Pharmaceuticals (NASDAQ:EGRX) opened at 49.08 on Monday. The company has a 50 day moving average price of $73.55 and a 200-day moving average price of $77.30. The firm has a market capitalization of $750.83 million, a PE ratio of 7.71 and a beta of 1.33. Eagle Pharmaceuticals has a one year low of $46.38 and a one year high of $97.15.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Monday, May 8th. The specialty pharmaceutical company reported $1.42 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $76.80 million for the quarter, compared to analyst estimates of $70.10 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s quarterly revenue was up 159.5% compared to the same quarter last year. On average, equities analysts predict that Eagle Pharmaceuticals will post $3.57 EPS for the current year.
In other news, CFO Pete A. Meyers acquired 350 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the transaction, the chief financial officer now directly owns 350 shares in the company, valued at $25,021.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 805 shares of company stock valued at $61,790. 19.50% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC boosted its stake in Eagle Pharmaceuticals by 24.4% in the second quarter. Essex Investment Management Co. LLC now owns 27,361 shares of the specialty pharmaceutical company’s stock worth $2,159,000 after buying an additional 5,367 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Eagle Pharmaceuticals by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 11,546 shares of the specialty pharmaceutical company’s stock worth $910,000 after buying an additional 302 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Eagle Pharmaceuticals by 6.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after buying an additional 120 shares in the last quarter. Strs Ohio boosted its stake in Eagle Pharmaceuticals by 16.3% in the second quarter. Strs Ohio now owns 9,300 shares of the specialty pharmaceutical company’s stock worth $733,000 after buying an additional 1,300 shares in the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new stake in Eagle Pharmaceuticals during the second quarter worth approximately $667,000.
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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