Eagle Pharmaceuticals Inc. (EGRX) Forecasted to Post FY2018 Earnings of $5.64 Per Share
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) – Investment analysts at William Blair cut their FY2018 earnings estimates for Eagle Pharmaceuticals in a research report issued on Wednesday. William Blair analyst T. Lugo now expects that the firm will earn $5.64 per share for the year, down from their prior forecast of $5.82. William Blair currently has a “Outperform” rating and a $97.00 target price on the stock.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, November 4th. RBC Capital Markets reiterated an “outperform” rating and set a $93.00 price target (up previously from $80.00) on shares of Eagle Pharmaceuticals in a report on Thursday, November 3rd. Royal Bank Of Canada increased their price target on shares of Eagle Pharmaceuticals from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Mizuho upgraded shares of Eagle Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $78.00 in a report on Thursday, November 3rd. Finally, Piper Jaffray Cos. reiterated a “buy” rating and set a $91.00 price target on shares of Eagle Pharmaceuticals in a report on Saturday, October 15th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $90.24.
Eagle Pharmaceuticals (NASDAQ:EGRX) traded down 5.60% on Friday, reaching $79.50. 698,059 shares of the company were exchanged. The firm has a 50-day moving average of $67.54 and a 200 day moving average of $53.70. The firm has a market capitalization of $1.23 billion, a P/E ratio of 51.79 and a beta of 1.37. Eagle Pharmaceuticals has a 12-month low of $33.02 and a 12-month high of $102.48.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings data on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Eagle Pharmaceuticals had a net margin of 20.06% and a return on equity of 25.63%. The business earned $37.80 million during the quarter, compared to analyst estimates of $41.04 million. During the same period in the previous year, the business earned ($0.65) EPS. Eagle Pharmaceuticals’s revenue was up 563.2% compared to the same quarter last year.
In other Eagle Pharmaceuticals news, major shareholder Proquest Investments Iv, L.P. sold 24,949 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $60.77, for a total value of $1,516,150.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC increased its position in Eagle Pharmaceuticals by 2.9% in the second quarter. Janus Capital Management LLC now owns 1,490,229 shares of the specialty pharmaceutical company’s stock valued at $57,805,000 after buying an additional 42,690 shares during the last quarter. BlackRock Fund Advisors increased its position in Eagle Pharmaceuticals by 87.0% in the third quarter. BlackRock Fund Advisors now owns 769,869 shares of the specialty pharmaceutical company’s stock valued at $53,891,000 after buying an additional 358,134 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Eagle Pharmaceuticals during the third quarter valued at $48,318,000. State Street Corp increased its position in Eagle Pharmaceuticals by 64.3% in the first quarter. State Street Corp now owns 629,493 shares of the specialty pharmaceutical company’s stock valued at $25,489,000 after buying an additional 246,262 shares during the last quarter. Finally, First Eagle Investment Management LLC acquired a new position in Eagle Pharmaceuticals during the third quarter valued at $39,774,000.
About Eagle Pharmaceuticals
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 EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).
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