Cantor Fitzgerald Reiterates Buy Rating for Egalet Corporation (EGLT)
Egalet Corporation (NASDAQ:EGLT)‘s stock had its “buy” rating reissued by research analysts at Cantor Fitzgerald in a report released on Saturday. Cantor Fitzgerald also issued estimates for Egalet Corporation’s FY2017 earnings at ($2.84) EPS and FY2018 earnings at ($0.97) EPS.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Egalet Corporation from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Tuesday, May 9th. ValuEngine cut Egalet Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Gabelli raised Egalet Corporation from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Friday, May 12th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price objective (down from $14.00) on shares of Egalet Corporation in a report on Thursday, August 10th. Finally, JMP Securities dropped their price objective on Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating for the company in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $6.50.
Egalet Corporation (EGLT) opened at 1.15 on Friday. The firm’s market cap is $30.20 million. Egalet Corporation has a 12-month low of $1.01 and a 12-month high of $10.00. The firm has a 50-day moving average of $1.27 and a 200-day moving average of $3.11.
Egalet Corporation (NASDAQ:EGLT) last announced its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by $0.10. The company had revenue of $6.26 million during the quarter, compared to analyst estimates of $6.68 million. Egalet Corporation had a negative net margin of 444.50% and a negative return on equity of 607.49%. Egalet Corporation’s revenue was up 81.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.97) earnings per share. On average, analysts expect that Egalet Corporation will post ($2.75) EPS for the current year.
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Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Egalet Corporation 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 buying an additional 103,402 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Egalet Corporation 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 buying an additional 2,408 shares during the last quarter. GMT Capital Corp acquired a new position in shares of Egalet Corporation during the second quarter valued at about $1,281,000. Virtu KCG Holdings LLC raised its position in shares of Egalet Corporation 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 buying an additional 37,155 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Egalet Corporation during the second quarter valued at about $179,000. Institutional investors own 38.55% of the company’s stock.
Egalet Corporation 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.
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