Eagle Pharmaceuticals (EGRX) Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a hold rating to a buy rating in a research report sent to investors on Saturday.
Several other analysts have also recently weighed in on the company. Royal Bank Of Canada reaffirmed an outperform rating and issued a $75.00 price target (down previously from $81.00) on shares of Eagle Pharmaceuticals in a report on Thursday, November 9th. Mizuho reaffirmed a sell rating and issued a $37.00 price target on shares of Eagle Pharmaceuticals in a report on Wednesday, November 8th. Piper Jaffray Companies reaffirmed a buy rating and issued a $75.00 price target on shares of Eagle Pharmaceuticals in a report on Friday, October 27th. Finally, ValuEngine cut Eagle Pharmaceuticals from a buy rating to a hold rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $62.33.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded up $0.06 during midday trading on Friday, reaching $59.12. The company’s stock had a trading volume of 193,116 shares, compared to its average volume of 232,649. Eagle Pharmaceuticals has a fifty-two week low of $45.05 and a fifty-two week high of $97.15. The company has a market cap of $882.19, a P/E ratio of 9.32 and a beta of 1.24. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.26.
Eagle Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty pharmaceutical company to reacquire up to 13.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in shares of Eagle Pharmaceuticals during the 2nd quarter valued at about $144,384,000. Thrivent Financial For Lutherans raised its holdings in shares of Eagle Pharmaceuticals by 17,917.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 828,820 shares of the specialty pharmaceutical company’s stock valued at $65,386,000 after buying an additional 824,220 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Eagle Pharmaceuticals by 271.6% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 386,132 shares of the specialty pharmaceutical company’s stock valued at $23,028,000 after buying an additional 282,225 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Eagle Pharmaceuticals by 1,045.7% during the 2nd quarter. Lazard Asset Management LLC now owns 278,108 shares of the specialty pharmaceutical company’s stock valued at $21,939,000 after buying an additional 253,833 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Eagle Pharmaceuticals by 808.7% during the 3rd quarter. Prudential Financial Inc. now owns 222,072 shares of the specialty pharmaceutical company’s stock valued at $13,244,000 after buying an additional 197,634 shares in the last quarter.
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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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