Eagle Pharmaceuticals Inc (NASDAQ:EGRX) Given Average Recommendation of “Buy” by Brokerages

Shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) have received a consensus rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $58.80.

A number of equities analysts recently commented on EGRX shares. BidaskClub raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Mizuho reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Eagle Pharmaceuticals in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a research note on Wednesday, August 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Eagle Pharmaceuticals in a research note on Sunday, August 11th. Finally, ValuEngine raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, August 16th.

Eagle Pharmaceuticals stock traded up $0.86 during midday trading on Wednesday, reaching $59.01. The stock had a trading volume of 93,626 shares, compared to its average volume of 180,916. The firm’s fifty day simple moving average is $55.77 and its two-hundred day simple moving average is $51.30. Eagle Pharmaceuticals has a twelve month low of $36.03 and a twelve month high of $82.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.59 and a quick ratio of 3.36. The firm has a market cap of $806.49 million, a price-to-earnings ratio of 28.23 and a beta of 1.44.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. The firm had revenue of $56.70 million during the quarter, compared to analyst estimates of $53.61 million. During the same quarter last year, the business posted $0.99 EPS. The company’s revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Eagle Pharmaceuticals will post 2.48 EPS for the current fiscal year.

Several large investors have recently modified their holdings of EGRX. PNC Financial Services Group Inc. boosted its stake in shares of Eagle Pharmaceuticals by 156.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 642 shares of the specialty pharmaceutical company’s stock valued at $32,000 after buying an additional 392 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter valued at $33,000. First Quadrant L P CA acquired a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter valued at $34,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter valued at $39,000. Finally, Bank of Montreal Can boosted its stake in shares of Eagle Pharmaceuticals by 395.0% during the 2nd quarter. Bank of Montreal Can now owns 1,277 shares of the specialty pharmaceutical company’s stock valued at $71,000 after buying an additional 1,019 shares during the period. 98.37% of the stock is owned by institutional investors.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The company offers Argatroban, an anti-coagulant thrombin inhibitor for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL); and Belrapzo, a chemotherapeutic agent for CLL and Indolent NHL.

Further Reading: What are the economic characteristics of a bear market?

Receive News & Ratings for Eagle Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.