Egalet Corporation (NASDAQ:EGLT) posted its quarterly earnings results on Wednesday. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.94) by $0.10, Briefing.com reports. Egalet Corporation had a negative return on equity of 2,190.07% and a negative net margin of 444.50%. The company had revenue of $6.26 million for the quarter, compared to analyst estimates of $6.68 million. During the same period last year, the company earned ($0.97) earnings per share. The business’s revenue for the quarter was up 81.4% compared to the same quarter last year.

Egalet Corporation (EGLT) traded down 3.77% during midday trading on Friday, hitting $1.02. 417,296 shares of the company’s stock traded hands. Egalet Corporation has a 52 week low of $1.01 and a 52 week high of $10.00. The company has a 50 day moving average of $1.62 and a 200-day moving average of $3.42. The company’s market capitalization is $25.53 million.

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Egalet Corporation by 18.1% in the fourth quarter. State Street Corp now owns 321,105 shares of the specialty pharmaceutical company’s stock worth $2,455,000 after buying an additional 49,193 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Egalet Corporation by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock worth $306,000 after buying an additional 3,666 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 13,570 shares in the last quarter. KCG Holdings Inc. boosted its position in shares of Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after buying an additional 19,116 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Egalet Corporation by 2.0% in the first quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock worth $1,358,000 after buying an additional 5,211 shares in the last quarter. 38.64% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities research analysts recently commented on EGLT shares. Stifel Nicolaus reissued a “buy” rating and issued a $6.00 price objective (down from $14.00) on shares of Egalet Corporation in a research note on Thursday. JMP Securities lowered their price objective on shares of Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Friday, July 14th. Cantor Fitzgerald set a $8.00 price objective on shares of Egalet Corporation and gave the company a “buy” rating in a research note on Thursday, June 8th. ValuEngine cut shares of Egalet Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, Gabelli raised shares of Egalet Corporation from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Friday, May 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Egalet Corporation currently has a consensus rating of “Buy” and a consensus price target of $9.50.

About Egalet Corporation

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.

Earnings History for Egalet Corporation (NASDAQ:EGLT)

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