Cantor Fitzgerald restated their buy rating on shares of Egalet Corporation (NASDAQ:EGLT) in a report issued on Saturday. Cantor Fitzgerald also issued estimates for Egalet Corporation’s FY2017 earnings at ($2.84) EPS and FY2018 earnings at ($0.97) EPS.

EGLT has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Egalet Corporation from a hold rating to a buy rating and set a $3.50 target price for the company in a report on Tuesday, May 9th. ValuEngine cut shares of Egalet Corporation from a sell rating to a strong sell rating in a report on Friday, June 2nd. Gabelli upgraded shares of Egalet Corporation from a hold rating to a buy rating and set a $9.50 target price for the company in a report on Friday, May 12th. They noted that the move was a valuation call. JMP Securities reduced their target price on shares of Egalet Corporation from $15.00 to $6.00 and set a market outperform rating for the company in a report on Friday, July 14th. Finally, Stifel Nicolaus restated a buy rating and set a $6.00 target price (down from $14.00) on shares of Egalet Corporation in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $6.50.

Shares of Egalet Corporation (EGLT) traded up 6.48% during trading on Friday, reaching $1.15. The company’s stock had a trading volume of 312,834 shares. The firm’s market capitalization is $30.20 million. Egalet Corporation has a 52 week low of $1.01 and a 52 week high of $10.00. The company has a 50 day moving average price of $1.27 and a 200 day moving average price of $3.11.

Egalet Corporation (NASDAQ:EGLT) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.94) by $0.10. The business had revenue of $6.26 million for the quarter, compared to the consensus estimate of $6.68 million. Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 444.50%. The company’s quarterly revenue was up 81.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.97) earnings per share. On average, equities research analysts expect that Egalet Corporation will post ($2.75) EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Egalet Corporation by 18.1% in the fourth quarter. State Street Corp now owns 321,105 shares of the specialty pharmaceutical company’s stock worth $2,455,000 after buying an additional 49,193 shares in the last quarter. Teachers Advisors LLC raised its position in Egalet Corporation by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock worth $306,000 after buying an additional 3,666 shares in the last quarter. SG Americas Securities LLC raised its position in Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 13,570 shares in the last quarter. KCG Holdings Inc. raised its position in Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after buying an additional 19,116 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Egalet Corporation by 2.0% in the first quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock worth $1,358,000 after buying an additional 5,211 shares in the last quarter. 38.55% of the stock is owned by hedge funds and other institutional investors.

About Egalet Corporation

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.

Analyst Recommendations for Egalet Corporation (NASDAQ:EGLT)

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