Eagle Pharmaceuticals Inc. (EGRX) Downgraded to “Neutral” at Mizuho
Mizuho downgraded shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) from a buy rating to a neutral rating in a research note published on Wednesday. The brokerage currently has $78.00 price target on the specialty pharmaceutical company’s stock.
EGRX has been the subject of several other research reports. Piper Jaffray Cos. reiterated a buy rating and issued a $91.00 target price on shares of Eagle Pharmaceuticals in a report on Saturday, October 15th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a strong sell rating to a buy rating and set a $84.00 target price for the company in a report on Friday, November 4th. RBC Capital Markets reiterated an outperform rating and issued a $93.00 target price on shares of Eagle Pharmaceuticals in a report on Monday. TheStreet upgraded shares of Eagle Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, August 9th. Finally, William Blair boosted their price target on shares of Eagle Pharmaceuticals from $83.00 to $97.00 and gave the stock an outperform rating in a research note on Wednesday, November 2nd. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Eagle Pharmaceuticals has an average rating of Buy and a consensus price target of $90.24.
Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded up 2.05% on Wednesday, reaching $77.32. The company had a trading volume of 157,956 shares. The stock has a market capitalization of $1193.51 billion, a P/E ratio of 50.21 and a beta of 1.37. The company’s 50 day moving average price is $68.61 and its 200-day moving average price is $54.68. Eagle Pharmaceuticals has a 1-year low of $33.02 and a 1-year high of $102.48.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.12. The firm had revenue of $37.80 million for the quarter, compared to analyst estimates of $41.04 million. Eagle Pharmaceuticals had a net margin of 20.06% and a return on equity of 25.63%. The business’s revenue for the quarter was up 563.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.65) EPS. Equities analysts predict that Eagle Pharmaceuticals will post $4.54 EPS for the current year.
In other news, major shareholder Proquest Investments Iv, L.P. sold 28,870 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $63.00, for a total value of $1,818,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Eagle Pharmaceuticals during the third quarter valued at about $166,000. White Pine Capital LLC purchased a new position in Eagle Pharmaceuticals during the second quarter valued at about $208,000. Mesirow Financial Investment Management Equity Management purchased a new position in Eagle Pharmaceuticals during the third quarter valued at about $222,000. Louisiana State Employees Retirement System purchased a new position in Eagle Pharmaceuticals during the third quarter valued at about $245,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Eagle Pharmaceuticals during the third quarter valued at about $245,000.
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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