Shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) have been assigned a consensus recommendation of “Hold” from the six analysts that are covering the stock. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $85.00.
A number of equities analysts have recently issued reports on the stock. Mizuho restated an “underperform” rating and set a $66.00 target price on shares of Eagle Pharmaceuticals in a research report on Friday, March 17th. Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, January 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Eagle Pharmaceuticals in a research report on Thursday, March 2nd.
In related news, major shareholder Proquest Investments Iv, L.P. sold 91,332 shares of Eagle Pharmaceuticals stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $83.09, for a total transaction of $7,588,775.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Pernock acquired 450 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were bought at an average price of $77.84 per share, with a total value of $35,028.00. Following the transaction, the insider now owns 450 shares in the company, valued at approximately $35,028. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 6,511 shares of company stock valued at $516,791 and have sold 358,738 shares valued at $29,663,461. Insiders own 18.80% of the company’s stock.
Several hedge funds have recently modified their holdings of EGRX. Bank of New York Mellon Corp boosted its stake in shares of Eagle Pharmaceuticals by 124.5% in the third quarter. Bank of New York Mellon Corp now owns 93,265 shares of the specialty pharmaceutical company’s stock worth $6,529,000 after buying an additional 51,725 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $48,318,000. Neuberger Berman Group LLC purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $945,000. Arizona State Retirement System purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $287,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $1,016,000.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded down 1.56% during trading on Monday, hitting $88.76. 102,594 shares of the stock traded hands. Eagle Pharmaceuticals has a 12 month low of $34.20 and a 12 month high of $91.07. The stock has a market cap of $1.35 billion, a PE ratio of 17.90 and a beta of 1.54. The firm’s 50-day moving average price is $82.30 and its 200-day moving average price is $74.67.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Wednesday, March 1st. The specialty pharmaceutical company reported $3.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $1.28. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $86.13 million. Eagle Pharmaceuticals had a net margin of 20.06% and a return on equity of 25.63%. The firm’s revenue was up 345.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Analysts anticipate that Eagle Pharmaceuticals will post $3.79 EPS for the current year.
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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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