NJ State Employees Deferred Compensation Plan Acquires Shares of 340,000 Egalet Corporation (EGLT)
NJ State Employees Deferred Compensation Plan acquired a new stake in Egalet Corporation (NASDAQ:EGLT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 340,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $435,000. NJ State Employees Deferred Compensation Plan owned about 1.29% of Egalet Corporation at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in Egalet Corporation by 515.7% in the second quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after acquiring an additional 103,402 shares during the last quarter. HighTower Advisors LLC increased its stake in Egalet Corporation by 0.9% in the second quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after acquiring an additional 2,408 shares during the last quarter. GMT Capital Corp bought a new position in Egalet Corporation in the second quarter valued at approximately $1,281,000. Virtu KCG Holdings LLC increased its stake in Egalet Corporation by 87.0% in the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after acquiring an additional 37,155 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Egalet Corporation in the second quarter valued at approximately $179,000. 32.62% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Egalet Corporation (NASDAQ EGLT) opened at $0.95 on Friday. The company has a quick ratio of 3.04, a current ratio of 3.11 and a debt-to-equity ratio of -3.22.
Egalet Corporation (NASDAQ:EGLT) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.10). The company had revenue of $6.26 million for the quarter, compared to the consensus estimate of $6.68 million. Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 444.50%. The business’s quarterly revenue was up 81.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.97) EPS. equities research analysts anticipate that Egalet Corporation will post -2.85 earnings per share for the current year.
A number of analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Egalet Corporation in a research note on Sunday, August 20th. JMP Securities decreased their target price 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. Guggenheim set a $7.00 target price on shares of Egalet Corporation and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 target price (down previously from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $7.10.
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.
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