Louisiana State Employees Retirement System cut its position in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 3,200 shares of the specialty pharmaceutical company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Eagle Pharmaceuticals were worth $252,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EGRX. James Investment Research Inc. bought a new stake in Eagle Pharmaceuticals during the second quarter worth approximately $1,142,000. State of Alaska Department of Revenue boosted its stake in Eagle Pharmaceuticals by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 1,592 shares of the specialty pharmaceutical company’s stock worth $125,000 after buying an additional 702 shares during the period. Fisher Asset Management LLC boosted its stake in Eagle Pharmaceuticals by 43.8% in the second quarter. Fisher Asset Management LLC now owns 11,045 shares of the specialty pharmaceutical company’s stock worth $871,000 after buying an additional 3,365 shares during the period. Bank of Montreal Can boosted its stake in Eagle Pharmaceuticals by 323.9% in the second quarter. Bank of Montreal Can now owns 2,497 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 1,908 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Eagle Pharmaceuticals by 48.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 3,700 shares of the specialty pharmaceutical company’s stock worth $307,000 after buying an additional 1,200 shares in the last quarter.

Eagle Pharmaceuticals, Inc. (EGRX) traded down 3.16% on Friday, hitting $54.25. 182,140 shares of the stock were exchanged. The company has a 50-day moving average of $64.44 and a 200 day moving average of $75.72. Eagle Pharmaceuticals, Inc. has a 12 month low of $45.05 and a 12 month high of $97.15. The firm has a market cap of $822.92 million, a P/E ratio of 9.11 and a beta of 1.31.

Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.18. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The business had revenue of $50.10 million during the quarter, compared to the consensus estimate of $52.52 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. Equities research analysts expect that Eagle Pharmaceuticals, Inc. will post $3.61 earnings per share for the current fiscal year.

Eagle Pharmaceuticals announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty pharmaceutical company to repurchase up to 13.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “Louisiana State Employees Retirement System Reduces Stake in Eagle Pharmaceuticals, Inc. (EGRX)” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/08/18/louisiana-state-employees-retirement-system-reduces-stake-in-eagle-pharmaceuticals-inc-egrx.html.

A number of research analysts recently weighed in on the stock. Piper Jaffray Companies set a $75.00 price objective on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Eagle Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. ValuEngine lowered shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reduced their price objective on shares of Eagle Pharmaceuticals from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $75.40.

In other news, Director Douglas L. Braunstein acquired 20,400 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Pete A. Meyers acquired 350 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were purchased at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the transaction, the chief financial officer now directly owns 350 shares in the company, valued at $25,021.50. The disclosure for this purchase can be found here. Insiders have bought a total of 21,100 shares of company stock worth $1,045,457 over the last 90 days. Insiders own 19.50% of the company’s stock.

Eagle Pharmaceuticals Company Profile

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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.

Want to see what other hedge funds are holding EGRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX).

Institutional Ownership by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

Receive News & Stock Ratings for Eagle Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.