Egalet Corp. (EGLT) Stock Rating Reaffirmed by Cantor Fitzgerald
Egalet Corp. (NASDAQ:EGLT)‘s stock had its “buy” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday.
EGLT has been the subject of several other research reports. Zacks Investment Research cut shares of Egalet Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Gabelli assumed coverage on shares of Egalet Corp. in a research note on Tuesday, September 13th. They set a “buy” rating and a $9.50 price objective for the company.
Egalet Corp. (NASDAQ:EGLT) traded up 9.52% during midday trading on Monday, reaching $7.82. 1,529,676 shares of the company traded hands. Egalet Corp. has a 12-month low of $4.34 and a 12-month high of $11.85. The stock’s market capitalization is $191.93 million. The company has a 50 day moving average of $7.36 and a 200-day moving average of $6.62.
Egalet Corp. (NASDAQ:EGLT) last posted its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.82) by $0.15. The business 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%. Egalet Corp.’s revenue for the quarter was up 259.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.03) EPS. Equities analysts anticipate that Egalet Corp. will post ($3.48) EPS for the current fiscal year.
In other Egalet Corp. news, CFO Stan Musial sold 13,480 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $7.47, for a total value of $100,695.60. Following the completion of the transaction, the chief financial officer now owns 67,980 shares of the company’s stock, valued at approximately $507,810.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert S. Radie sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $7.47, for a total transaction of $112,050.00. Following the completion of the transaction, the insider now directly owns 234,900 shares of the company’s stock, valued at approximately $1,754,703. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EGLT. BlackRock Fund Advisors boosted its position in Egalet Corp. by 154.5% in the second quarter. BlackRock Fund Advisors now owns 899,471 shares of the specialty pharmaceutical company’s stock worth $4,461,000 after buying an additional 546,034 shares in the last quarter. State Street Corp bought a new position in Egalet Corp. during the second quarter worth approximately $969,000. BlackRock Institutional Trust Company N.A. boosted its position in Egalet Corp. by 139.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 240,175 shares of the specialty pharmaceutical company’s stock worth $1,191,000 after buying an additional 140,046 shares in the last quarter. Deerfield Management Co. boosted its position in Egalet Corp. by 25.2% in the first quarter. Deerfield Management Co. now owns 597,123 shares of the specialty pharmaceutical company’s stock worth $4,096,000 after buying an additional 120,000 shares in the last quarter. Finally, Bridgeway Capital Management Inc. boosted its position in Egalet Corp. by 97.0% in the second quarter. Bridgeway Capital Management Inc. now owns 196,450 shares of the specialty pharmaceutical company’s stock worth $974,000 after buying an additional 96,750 shares in the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.
About Egalet Corp.
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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