Egalet Corporation (EGLT) Rating Reiterated by Stifel Nicolaus
Egalet Corporation (NASDAQ:EGLT)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $6.00 price objective on the specialty pharmaceutical company’s stock, down from their previous price objective of $14.00. Stifel Nicolaus’ price objective indicates a potential upside of 421.74% from the company’s current price.
Several other equities analysts have also recently commented on EGLT. Zacks Investment Research raised shares of Egalet Corporation from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Tuesday, May 9th. Gabelli raised shares of Egalet Corporation from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Friday, May 12th. They noted that the move was a valuation call. 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 Saturday, May 13th. ValuEngine cut shares of Egalet Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, JMP Securities reduced their price objective on shares of Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating for the company in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.83.
Shares of Egalet Corporation (NASDAQ:EGLT) traded down 8.261% on Thursday, hitting $1.055. 787,736 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $1.66 and its 200 day moving average is $3.44. Egalet Corporation has a 12 month low of $1.05 and a 12 month high of $10.00. The firm’s market cap is $26.41 million.
Egalet Corporation (NASDAQ:EGLT) last posted its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by $0.10. Egalet Corporation had a negative net margin of 494.00% and a negative return on equity of 607.49%. The business had revenue of $6.26 million during the quarter, compared to the consensus estimate of $6.68 million. During the same period last year, the firm earned ($0.97) EPS. The business’s revenue for the quarter was up 81.4% on a year-over-year basis. On average, equities analysts predict that Egalet Corporation will post ($3.08) earnings per share for the current year.
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Large investors have recently bought and sold shares of the stock. New Jersey Better Educational Savings Trust bought a new position in shares of Egalet Corporation during the first quarter valued at approximately $510,000. LMR Partners LLP bought a new position in shares of Egalet Corporation during the second quarter valued at approximately $179,000. State Street Corp raised 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 valued at $2,455,000 after buying an additional 49,193 shares during the period. KCG Holdings Inc. raised 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 valued at $218,000 after buying an additional 19,116 shares during the period. Finally, SG Americas Securities LLC raised 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 valued at $155,000 after buying an additional 13,570 shares during the period. Institutional investors own 38.64% of the company’s stock.
Egalet Corporation 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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