Egalet Corporation (NASDAQ:EGLT) had its target price cut by JMP Securities from $15.00 to $6.00 in a report released on Friday, July 14th. They currently have a market outperform rating on the specialty pharmaceutical company’s stock.
Several other research analysts have also commented on the stock. Cantor Fitzgerald set a $8.00 price objective on shares of Egalet Corporation and gave the stock a buy rating in a research note on Thursday, June 8th. ValuEngine lowered shares of Egalet Corporation from a sell rating to a strong sell rating in a research note on Friday, June 2nd. 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, Zacks Investment Research downgraded Egalet Corporation from a buy rating to a hold rating in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $10.20.
Shares of Egalet Corporation (NASDAQ:EGLT) traded down 8.26% during midday trading on Friday, hitting $1.11. 328,615 shares of the stock were exchanged. Egalet Corporation has a 52-week low of $1.11 and a 52-week high of $10.00. The firm’s 50-day moving average is $1.92 and its 200 day moving average is $3.59. The firm’s market cap is $27.79 million.
Egalet Corporation (NASDAQ:EGLT) last posted its earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by $0.12. Egalet Corporation had a negative net margin of 494.00% and a negative return on equity of 607.49%. The business had revenue of $5.57 million during the quarter, compared to analysts’ expectations of $6.92 million. During the same period last year, the business posted ($0.76) earnings per share. On average, analysts forecast that Egalet Corporation will post ($3.08) earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Egalet Corporation during the fourth quarter valued at about $194,000. SG Americas Securities LLC boosted 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 in the last quarter. Teachers Advisors LLC boosted its position in shares of Egalet Corporation by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock valued at $306,000 after buying an additional 3,666 shares in the last quarter. KCG Holdings Inc. boosted 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 in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 38.64% of the company’s stock.
Egalet Corporation 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.
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