Douglas L. Braunstein Buys 20,400 Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) Stock
Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) Director Douglas L. Braunstein purchased 20,400 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Eagle Pharmaceuticals, Inc. (NASDAQ EGRX) traded up 11.12% on Friday, reaching $55.64. The company had a trading volume of 654,889 shares. The stock has a market capitalization of $844.00 million, a PE ratio of 9.34 and a beta of 1.31. Eagle Pharmaceuticals, Inc. has a 12-month low of $45.05 and a 12-month high of $97.15. The stock’s 50 day moving average price is $68.13 and its 200-day moving average price is $76.11.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.51 by $0.18. The company had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $52.52 million. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. Equities analysts expect that Eagle Pharmaceuticals, Inc. will post $3.38 earnings per share for the current fiscal year.
Eagle Pharmaceuticals announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty pharmaceutical company to reacquire up to 13.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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EGRX has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $94.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 10th. Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, July 25th. ValuEngine cut Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $75.40.
A number of hedge funds have recently made changes to their positions in EGRX. Norges Bank bought a new stake in shares of Eagle Pharmaceuticals during the fourth quarter valued at approximately $5,634,000. Teachers Advisors LLC boosted its stake in shares of Eagle Pharmaceuticals by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 15,537 shares of the specialty pharmaceutical company’s stock valued at $1,233,000 after buying an additional 752 shares during the last quarter. Campbell Newman Asset Management Inc. bought a new stake in shares of Eagle Pharmaceuticals during the first quarter valued at approximately $213,000. Louisiana State Employees Retirement System boosted its stake in shares of Eagle Pharmaceuticals by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the specialty pharmaceutical company’s stock valued at $274,000 after buying an additional 100 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Eagle Pharmaceuticals during the first quarter valued at approximately $10,842,000.
About Eagle Pharmaceuticals
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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