Egalet (EGLT) Shares Gap Up to $1.03

Egalet Corporation (NASDAQ:EGLT) gapped up before the market opened on Wednesday . The stock had previously closed at $0.99, but opened at $1.03. Egalet shares last traded at $1.07, with a volume of 2415029 shares traded.

Several equities research analysts recently weighed in on EGLT shares. Cantor Fitzgerald set a $7.00 price objective on shares of Egalet and gave the stock a “buy” rating in a research note on Friday, December 15th. Stifel Nicolaus lowered shares of Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective on the stock. in a research note on Wednesday. Finally, Gabelli lowered shares of Egalet from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.20.

The stock has a market cap of $46.04, a P/E ratio of -0.32 and a beta of 0.44. The company has a current ratio of 2.73, a quick ratio of 2.68 and a debt-to-equity ratio of -3.43.

Several large investors have recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Egalet in the third quarter valued at approximately $435,000. Goldman Sachs Group Inc. increased its stake in shares of Egalet by 515.7% in the second quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after purchasing an additional 103,402 shares during the period. HighTower Advisors LLC increased its stake in shares of Egalet by 0.9% in the second quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after purchasing an additional 2,408 shares during the period. GMT Capital Corp acquired a new stake in shares of Egalet in the second quarter valued at approximately $1,281,000. Finally, Virtu KCG Holdings LLC increased its stake in shares of Egalet by 87.0% in the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 37,155 shares during the period. Institutional investors own 54.05% of the company’s stock.

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About Egalet

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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