Eagle Pharmaceuticals, Inc. (EGRX) Price Target Cut to $81.00
Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) had its price target cut by Royal Bank Of Canada from $94.00 to $81.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have an outperform rating on the specialty pharmaceutical company’s stock.
Other equities analysts have also issued reports about the stock. Piper Jaffray Companies set a $118.00 price target on shares of Eagle Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Eagle Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, June 21st. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a strong sell rating to a hold rating in a research report on Monday, July 10th. ValuEngine upgraded shares of Eagle Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Tuesday, May 16th. Finally, Mizuho lowered their target price on shares of Eagle Pharmaceuticals from $57.00 to $40.00 and set an underperform rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $84.00.
Eagle Pharmaceuticals (EGRX) traded down 3.19% during mid-day trading on Thursday, reaching $48.87. 205,083 shares of the company’s stock traded hands. The stock has a market capitalization of $747.61 million, a PE ratio of 7.68 and a beta of 1.48. Eagle Pharmaceuticals has a 52 week low of $42.33 and a 52 week high of $97.15. The stock’s 50 day moving average is $74.77 and its 200-day moving average is $77.39.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Monday, May 8th. The specialty pharmaceutical company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by $0.02. The company had revenue of $76.80 million during the quarter, compared to analysts’ expectations of $70.10 million. Eagle Pharmaceuticals had a net margin of 44.48% and a return on equity of 79.25%. The business’s revenue for the quarter was up 159.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, equities analysts anticipate that Eagle Pharmaceuticals will post $3.57 EPS for the current year.
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In other news, CFO Pete A. Meyers acquired 350 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average cost of $71.49 per share, for a total transaction of $25,021.50. Following the transaction, the chief financial officer now directly owns 350 shares in the company, valued at approximately $25,021.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 805 shares of company stock worth $61,790. 19.50% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in EGRX. Advisory Services Network LLC acquired a new stake in Eagle Pharmaceuticals during the first quarter worth approximately $664,000. Essex Investment Management Co. LLC increased its stake in Eagle Pharmaceuticals by 12.2% in the first quarter. Essex Investment Management Co. LLC now owns 21,994 shares of the specialty pharmaceutical company’s stock worth $1,824,000 after buying an additional 2,391 shares during the period. Strs Ohio acquired a new stake in Eagle Pharmaceuticals during the first quarter worth approximately $663,000. Fisher Asset Management LLC increased its stake in Eagle Pharmaceuticals by 32.9% in the first quarter. Fisher Asset Management LLC now owns 7,680 shares of the specialty pharmaceutical company’s stock worth $637,000 after buying an additional 1,900 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new stake in Eagle Pharmaceuticals during the first quarter worth approximately $10,842,000.
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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