UBS Group AG cut its position in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 93.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,337 shares of the specialty pharmaceutical company’s stock after selling 18,347 shares during the period. UBS Group AG’s holdings in Eagle Pharmaceuticals were worth $111,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EGRX. BNP Paribas Arbitrage SA increased its position in shares of Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock worth $128,000 after buying an additional 202 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock worth $157,000 after buying an additional 175 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Eagle Pharmaceuticals by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its position in shares of Eagle Pharmaceuticals by 2.4% in the first quarter. Arizona State Retirement System now owns 4,200 shares of the specialty pharmaceutical company’s stock worth $348,000 after buying an additional 100 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Eagle Pharmaceuticals by 9.5% in the first quarter. Thrivent Financial For Lutherans now owns 4,600 shares of the specialty pharmaceutical company’s stock worth $382,000 after buying an additional 400 shares in the last quarter.

Eagle Pharmaceuticals, Inc. (EGRX) traded up 1.37% during trading on Monday, reaching $56.40. The company had a trading volume of 63,939 shares. The company has a 50 day moving average price of $67.41 and a 200 day moving average price of $76.03. Eagle Pharmaceuticals, Inc. has a 52-week low of $45.05 and a 52-week high of $97.15. The company has a market capitalization of $855.53 million, a PE ratio of 9.47 and a beta of 1.31.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.18. The company had revenue of $50.10 million for the quarter, compared to analyst estimates of $52.52 million. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, equities analysts forecast that Eagle Pharmaceuticals, Inc. will post $3.38 EPS for the current fiscal year.

Eagle Pharmaceuticals declared that its board has authorized a stock buyback program on Wednesday, August 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the specialty pharmaceutical company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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A number of brokerages have recently weighed in on EGRX. Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, July 25th. BidaskClub downgraded Eagle Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Royal Bank Of Canada set a $94.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research downgraded Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Mizuho dropped their target price on Eagle Pharmaceuticals from $57.00 to $40.00 and set an “underperform” rating on the stock in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.40.

In related news, CFO Pete A. Meyers purchased 350 shares of the stock in a transaction on Monday, June 12th. The shares were purchased at an average price of $71.49 per share, with a total value of $25,021.50. Following the transaction, the chief financial officer now directly owns 350 shares of the company’s stock, valued at $25,021.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas L. Braunstein purchased 20,400 shares of the stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,205 shares of company stock worth $1,062,818 in the last ninety days. Insiders own 19.50% of the company’s stock.

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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Institutional Ownership by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

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