RBC Capital Markets Reaffirms “Outperform” Rating for Eagle Pharmaceuticals Inc. (EGRX)
RBC Capital Markets reaffirmed their outperform rating on shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) in a report published on Monday. They currently have a $93.00 price target on the specialty pharmaceutical company’s stock.
EGRX has been the subject of a number of other reports. Zacks Investment Research raised Eagle Pharmaceuticals from a strong sell rating to a buy rating and set a $84.00 price target for the company in a report on Friday, November 4th. Royal Bank Of Canada raised their price target on Eagle Pharmaceuticals from $80.00 to $93.00 and gave the stock an outperform rating in a report on Thursday, November 3rd. Mizuho raised Eagle Pharmaceuticals from a neutral rating to a buy rating and raised their price target for the stock from $62.00 to $78.00 in a report on Thursday, November 3rd. William Blair raised their price target on Eagle Pharmaceuticals from $83.00 to $97.00 and gave the stock an outperform rating in a report on Wednesday, November 2nd. Finally, Piper Jaffray Cos. reaffirmed a buy rating and issued a $91.00 price target on shares of Eagle Pharmaceuticals in a report on Saturday, October 15th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $90.24.
Eagle Pharmaceuticals (NASDAQ:EGRX) opened at 76.24 on Monday. The firm has a market cap of $1176.84 billion, a PE ratio of 49.51 and a beta of 1.37. The stock’s 50 day moving average price is $68.61 and its 200-day moving average price is $54.68. 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 earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.12. Eagle Pharmaceuticals had a return on equity of 25.63% and a net margin of 20.06%. The business earned $37.80 million during the quarter, compared to the consensus estimate of $41.04 million. During the same period last year, the business posted ($0.65) earnings per share. The business’s revenue for the quarter was up 563.2% on a year-over-year basis. Equities research analysts anticipate that Eagle Pharmaceuticals will post $4.54 earnings per share for the current fiscal year.
In other news, major shareholder Proquest Investments Iv, L.P. sold 70,925 shares of Eagle Pharmaceuticals stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $62.50, for a total value of $4,432,812.50. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL increased its position in shares of Eagle Pharmaceuticals by 1.4% in the second quarter. Blair William & Co. IL now owns 66,305 shares of the specialty pharmaceutical company’s stock worth $2,572,000 after buying an additional 925 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Eagle Pharmaceuticals by 2.9% in the second quarter. PNC Financial Services Group Inc. now owns 12,578 shares of the specialty pharmaceutical company’s stock valued at $488,000 after buying an additional 349 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Eagle Pharmaceuticals during the second quarter valued at $839,000. Swiss National Bank boosted its stake in Eagle Pharmaceuticals by 10.2% in the second quarter. Swiss National Bank now owns 15,100 shares of the specialty pharmaceutical company’s stock valued at $586,000 after buying an additional 1,400 shares during the last quarter. Finally, Columbus Circle Investors purchased a new stake in Eagle Pharmaceuticals during the second quarter valued at $306,000.
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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