Egalet Corp. (NASDAQ:EGLT) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,618,284 shares, an increase of 30.1% from the August 15th total of 2,781,243 shares. Based on an average daily trading volume, of 208,556 shares, the short-interest ratio is currently 17.3 days. Approximately 30.5% of the shares of the stock are short sold.

Shares of Egalet Corp. (NASDAQ:EGLT) opened at 7.21 on Wednesday. Egalet Corp. has a 52-week low of $4.34 and a 52-week high of $15.72. The stock’s market capitalization is $176.96 million. The firm has a 50-day moving average of $7.63 and a 200 day moving average of $6.49.

Egalet Corp. (NASDAQ:EGLT) last posted its quarterly earnings data on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by $0.15. The company had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.83 million. Egalet Corp. had a negative net margin of 244.57% and a negative return on equity of 86.03%. The business’s revenue for the quarter was up 259.4% on a year-over-year basis. During the same period in the previous year, the business earned ($1.03) earnings per share. Equities research analysts forecast that Egalet Corp. will post ($3.48) EPS for the current fiscal year.

In related news, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total transaction of $75,150.00. Following the completion of the transaction, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at approximately $1,302,099. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stan Musial sold 10,000 shares of Egalet Corp. stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $5.06, for a total transaction of $50,600.00. Following the transaction, the chief financial officer now directly owns 84,940 shares of the company’s stock, valued at $429,796.40. The disclosure for this sale can be found here. 13.20% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of EGLT. BlackRock Fund Advisors increased its position in Egalet Corp. by 154.5% in the second quarter. BlackRock Fund Advisors now owns 899,471 shares of the specialty pharmaceutical company’s stock valued at $4,461,000 after buying an additional 546,034 shares during the last quarter. BlackRock Investment Management LLC increased its position in Egalet Corp. by 3,736.2% in the second quarter. BlackRock Investment Management LLC now owns 84,128 shares of the specialty pharmaceutical company’s stock valued at $417,000 after buying an additional 81,935 shares during the last quarter. Vanguard Group Inc. increased its position in Egalet Corp. by 12.0% in the second quarter. Vanguard Group Inc. now owns 461,128 shares of the specialty pharmaceutical company’s stock valued at $2,287,000 after buying an additional 49,577 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Egalet Corp. by 2.7% in the second quarter. Janney Montgomery Scott LLC now owns 55,754 shares of the specialty pharmaceutical company’s stock valued at $614,000 after buying an additional 1,476 shares during the last quarter. Finally, Omega Fund Management LLC increased its position in Egalet Corp. by 2.7% in the second quarter. Omega Fund Management LLC now owns 2,889,926 shares of the specialty pharmaceutical company’s stock valued at $14,334,000 after buying an additional 74,998 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on EGLT. Cantor Fitzgerald set a $21.00 price target on shares of Egalet Corp. and gave the stock a “buy” rating in a research note on Saturday, August 6th. Zacks Investment Research cut shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, Gabelli began coverage on shares of Egalet Corp. in a research note on Tuesday, September 13th. They set a “buy” rating and a $9.50 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Egalet Corp. has an average rating of “Hold” and a consensus target price of $14.40.

Egalet Corp. Company Profile

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.

5 Day Chart for NASDAQ:EGLT

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