Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $73.25.
A number of equities analysts recently issued reports on the stock. Piper Jaffray Companies set a $75.00 price objective on shares of Eagle Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of Eagle Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. ValuEngine cut shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada decreased their target price on shares of Eagle Pharmaceuticals from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, July 27th. Finally, 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.
In related news, CFO Pete A. Meyers acquired 350 shares of Eagle Pharmaceuticals stock in a transaction dated Monday, June 12th. The shares were purchased at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the transaction, the chief financial officer now directly owns 350 shares in the company, valued at approximately $25,021.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas L. Braunstein acquired 20,400 shares of Eagle Pharmaceuticals stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $49.07 per share, for a total transaction of $1,001,028.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 21,100 shares of company stock worth $1,045,457. 19.50% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in Eagle Pharmaceuticals by 6.5% in the first quarter. Comerica Bank now owns 8,995 shares of the specialty pharmaceutical company’s stock valued at $814,000 after buying an additional 550 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock valued at $128,000 after buying an additional 202 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Eagle Pharmaceuticals during the first quarter valued at about $4,093,000. C WorldWide Group Holding A S boosted its stake in Eagle Pharmaceuticals by 21.4% in the first quarter. C WorldWide Group Holding A S now owns 65,085 shares of the specialty pharmaceutical company’s stock valued at $5,398,000 after buying an additional 11,485 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Eagle Pharmaceuticals by 9.6% in the first quarter. Great West Life Assurance Co. Can now owns 11,244 shares of the specialty pharmaceutical company’s stock valued at $932,000 after buying an additional 981 shares during the last quarter.
Eagle Pharmaceuticals (EGRX) traded up 2.18% on Friday, reaching $54.40. 271,500 shares of the company’s stock traded hands. The company’s 50 day moving average is $62.05 and its 200-day moving average is $75.35. The stock has a market cap of $825.19 million, a price-to-earnings ratio of 9.13 and a beta of 1.31. Eagle Pharmaceuticals has a 52-week low of $45.05 and a 52-week high of $97.15.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data 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 business had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $52.52 million. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Equities analysts expect that Eagle Pharmaceuticals will post $3.61 EPS for the current year.
Eagle Pharmaceuticals announced that its board has approved a share repurchase 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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