Shares of Egalet Corporation (NASDAQ:EGLT) shot up 0% during trading on Thursday . The company traded as high as $1.15 and last traded at $1.14. 2,072,209 shares changed hands during trading, a decline of 18% from the average session volume of 2,537,003 shares. The stock had previously closed at $1.14.

Several research firms have issued reports on EGLT. Stifel Nicolaus lowered Egalet from a “buy” rating to a “hold” rating and set a $1.50 price target for the company. in a report on Wednesday. Cantor Fitzgerald set a $7.00 price target on Egalet and gave the company a “buy” rating in a report on Friday, December 15th. Finally, Gabelli lowered Egalet from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.20.

The company has a debt-to-equity ratio of -3.43, a quick ratio of 2.68 and a current ratio of 2.73. The stock has a market cap of $49.05, a price-to-earnings ratio of -0.34 and a beta of 0.44.

Large investors have recently added to or reduced their stakes in the business. Virtu KCG Holdings LLC grew its holdings in Egalet by 87.0% during the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 37,155 shares during the period. Goldman Sachs Group Inc. grew its holdings in Egalet by 515.7% during the second quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after purchasing an additional 103,402 shares during the period. HighTower Advisors LLC grew its holdings in Egalet by 0.9% during the second quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after purchasing an additional 2,408 shares during the period. NJ State Employees Deferred Compensation Plan bought a new stake in Egalet during the third quarter valued at about $435,000. Finally, GMT Capital Corp bought a new position in shares of Egalet in the second quarter worth about $1,281,000. 54.05% of the stock is owned by institutional investors and hedge funds.

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Egalet 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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