Egalet Corporation (NASDAQ:EGLT) – Equities researchers at Cantor Fitzgerald dropped their FY2016 earnings estimates for shares of Egalet Corporation in a note issued to investors on Tuesday. Cantor Fitzgerald analyst C. Russo now anticipates that the brokerage will post earnings of ($3.75) per share for the year, down from their prior estimate of ($3.44). Cantor Fitzgerald currently has a “Buy” rating and a $21.00 price target on the stock. Cantor Fitzgerald also issued estimates for Egalet Corporation’s FY2017 earnings at ($3.08) EPS.

Egalet Corporation (NASDAQ:EGLT) last released its quarterly earnings data on Friday, November 4th. The specialty pharmaceutical company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.90) by $0.20. The business had revenue of $4.70 million for the quarter, compared to analyst estimates of $4.50 million. Egalet Corporation had a negative return on equity of 127.84% and a negative net margin of 251.79%. The company’s revenue for the quarter was up 176.5% compared to the same quarter last year.

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Several other research analysts also recently commented on the stock. JMP Securities reiterated an “outperform” rating and issued a $15.00 target price on shares of Egalet Corporation in a report on Tuesday, December 20th. Zacks Investment Research upgraded shares of Egalet Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, January 4th. Finally, Gabelli downgraded shares of Egalet Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.60.

Egalet Corporation (NASDAQ:EGLT) traded down 2.96% during midday trading on Friday, reaching $5.90. 373,797 shares of the company traded hands. Egalet Corporation has a 12 month low of $4.34 and a 12 month high of $10.00. The firm’s 50 day moving average price is $7.86 and its 200 day moving average price is $7.13. The firm’s market capitalization is $145.22 million.

Hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in Egalet Corporation 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 in the last quarter. State Street Corp bought a new stake in Egalet Corporation during the second quarter valued at about $969,000. BlackRock Institutional Trust Company N.A. raised its stake in Egalet Corporation by 139.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 240,175 shares of the specialty pharmaceutical company’s stock valued at $1,191,000 after buying an additional 140,046 shares in the last quarter. Bridgeway Capital Management Inc. raised its stake in Egalet Corporation by 97.0% in the second quarter. Bridgeway Capital Management Inc. now owns 196,450 shares of the specialty pharmaceutical company’s stock valued at $974,000 after buying an additional 96,750 shares in the last quarter. Finally, BlackRock Investment Management LLC raised its stake in Egalet Corporation 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 in the last quarter. Institutional investors own 70.62% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “FY2016 EPS Estimates for Egalet Corporation (EGLT) Cut by Cantor Fitzgerald” was reported by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another website, it was copied illegally and republished in violation of international trademark & copyright legislation. The correct version of this news story can be accessed at http://www.watchlistnews.com/fy2016-eps-estimates-for-egalet-corporation-eglt-cut-by-cantor-fitzgerald/1060177.html.

In other Egalet Corporation news, CFO Stan Musial sold 13,480 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $7.73, for a total value of $104,200.40. Following the sale, the chief financial officer now directly owns 54,500 shares in the company, valued at approximately $421,285. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark Strobeck sold 8,700 shares of the firm’s stock in a transaction on Friday, December 30th. The stock was sold at an average price of $7.81, for a total transaction of $67,947.00. Following the completion of the sale, the chief operating officer now owns 38,180 shares in the company, valued at $298,185.80. The disclosure for this sale can be found here. 13.20% of the stock is currently owned by company insiders.

About Egalet Corporation

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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