Zacks Investment Research Downgrades Eagle Pharmaceuticals (NASDAQ:EGRX) to Hold

Eagle Pharmaceuticals (NASDAQ:EGRX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, January 9th.

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. “

Several other research firms have also recently weighed in on EGRX. BidaskClub upgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 target price (down from $81.00) on shares of Eagle Pharmaceuticals in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and set a $75.00 target price on shares of Eagle Pharmaceuticals in a research note on Friday, October 27th. Finally, Mizuho reissued a “sell” rating and set a $37.00 target price on shares of Eagle Pharmaceuticals in a research note on Wednesday, November 8th. One equities 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’s stock. Eagle Pharmaceuticals has an average rating of “Hold” and an average target price of $62.33.

Shares of Eagle Pharmaceuticals (NASDAQ EGRX) traded down $2.16 during trading hours on Tuesday, reaching $59.93. 213,500 shares of the company traded hands, compared to its average volume of 214,010. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.15 and a current ratio of 5.30. Eagle Pharmaceuticals has a fifty-two week low of $45.05 and a fifty-two week high of $97.15. The company has a market cap of $871.72, a P/E ratio of 9.65 and a beta of 1.24.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.50. Eagle Pharmaceuticals had a net margin of 36.95% and a return on equity of 62.60%. equities analysts predict that Eagle Pharmaceuticals will post 2.23 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in EGRX. BNP Paribas Arbitrage SA lifted its position in shares of Eagle Pharmaceuticals by 58.7% during the second quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the specialty pharmaceutical company’s stock valued at $194,000 after purchasing an additional 908 shares in the last quarter. Kopp Investment Advisors LLC lifted its position in shares of Eagle Pharmaceuticals by 0.3% during the second quarter. Kopp Investment Advisors LLC now owns 3,060 shares of the specialty pharmaceutical company’s stock valued at $241,000 after purchasing an additional 10 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Eagle Pharmaceuticals by 68.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,210 shares of the specialty pharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,300 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Eagle Pharmaceuticals during the second quarter valued at about $276,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Eagle Pharmaceuticals during the second quarter valued at about $292,000.

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About Eagle Pharmaceuticals

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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