Brokerages Set Eagle Pharmaceuticals, Inc. (EGRX) PT at $72.50
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $64.33.
EGRX has been the subject of a number of analyst reports. Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub downgraded Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Royal Bank Of Canada set a $94.00 price target on Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, July 16th. Piper Jaffray Companies set a $118.00 price target on Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, Mizuho decreased their price target on Eagle Pharmaceuticals from $57.00 to $40.00 and set an “underperform” rating for the company in a report on Thursday, July 27th.
In other Eagle Pharmaceuticals news, Director Douglas L. Braunstein bought 20,400 shares of Eagle Pharmaceuticals stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $49.07 per share, with a total value of $1,001,028.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Eagle Pharmaceuticals by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock worth $125,000 after buying an additional 702 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Eagle Pharmaceuticals by 6.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after buying an additional 120 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Eagle Pharmaceuticals by 58.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the specialty pharmaceutical company’s stock worth $194,000 after buying an additional 908 shares during the period. Bank of Montreal Can raised its stake in shares of Eagle Pharmaceuticals by 323.9% during the 2nd quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 1,908 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of Eagle Pharmaceuticals by 4.9% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 2,693 shares of the specialty pharmaceutical company’s stock worth $212,000 after buying an additional 126 shares during the period.
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Shares of Eagle Pharmaceuticals (NASDAQ EGRX) traded up $1.76 during midday trading on Thursday, reaching $55.32. The company had a trading volume of 261,576 shares, compared to its average volume of 346,114. The stock has a market capitalization of $839.15, a price-to-earnings ratio of 9.22 and a beta of 1.23. Eagle Pharmaceuticals has a 52-week low of $45.05 and a 52-week high of $97.15.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.18). Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The firm had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $52.52 million. During the same quarter in the prior year, the company earned $0.80 EPS. Eagle Pharmaceuticals’s quarterly revenue was up 22.5% on a year-over-year basis. equities analysts anticipate that Eagle Pharmaceuticals will post 3.59 EPS for the current year.
Eagle Pharmaceuticals declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty pharmaceutical company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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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