Egalet Corp. (EGLT) COO Mark Strobeck Sells 33,700 Shares
Egalet Corp. (NASDAQ:EGLT) COO Mark Strobeck sold 33,700 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $7.58, for a total value of $255,446.00. Following the transaction, the chief operating officer now owns 71,880 shares in the company, valued at $544,850.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Egalet Corp. (NASDAQ:EGLT) opened at 7.64 on Wednesday. Egalet Corp. has a 12-month low of $4.34 and a 12-month high of $11.96. The company has a 50-day moving average price of $7.54 and a 200 day moving average price of $6.58. The stock’s market cap is $187.51 million.
Egalet Corp. (NASDAQ:EGLT) last released its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by $0.15. The firm earned $3.45 million during the quarter, compared to analysts’ expectations of $3.83 million. Egalet Corp. had a negative return on equity of 86.03% and a negative net margin of 244.57%. The firm’s revenue was up 259.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.03) earnings per share. On average, equities research analysts predict that Egalet Corp. will post ($3.48) EPS for the current year.
A number of research firms have recently weighed in on EGLT. Cantor Fitzgerald set a $21.00 price objective on Egalet Corp. and gave the stock a “buy” rating in a research report on Saturday, August 6th. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Gabelli began coverage on Egalet Corp. in a research report on Tuesday, September 13th. They set a “buy” rating and a $9.50 price objective on the stock.
Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in Egalet Corp. by 16.2% in the second quarter. ProShare Advisors LLC now owns 21,386 shares of the specialty pharmaceutical company’s stock valued at $106,000 after buying an additional 2,977 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Egalet Corp. during the second quarter worth $125,000. Schwab Charles Investment Management Inc. bought a new position in shares of Egalet Corp. during the second quarter worth $177,000. Teachers Advisors Inc. bought a new position in shares of Egalet Corp. during the second quarter worth $180,000. Finally, California State Teachers Retirement System bought a new position in shares of Egalet Corp. during the second quarter worth $230,000. 67.18% of the stock is owned by hedge funds and other institutional investors.
Egalet Corp. 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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