Old Mutual Global Investors UK Ltd. purchased a new position in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 103,907 shares of the specialty pharmaceutical company’s stock, valued at approximately $8,197,000. Old Mutual Global Investors UK Ltd. owned approximately 0.68% of Eagle Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EGRX. State of Alaska Department of Revenue raised its position 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 acquiring an additional 702 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock worth $128,000 after acquiring an additional 202 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in Eagle Pharmaceuticals by 6.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after acquiring an additional 120 shares in the last quarter. Mason Street Advisors LLC raised its position in Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock worth $157,000 after acquiring an additional 175 shares in the last quarter. Finally, Bank of Montreal Can raised its position 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 acquiring an additional 1,908 shares in the last quarter.

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

Eagle Pharmaceuticals, Inc. (NASDAQ EGRX) opened at 57.54 on Friday. The company has a 50-day moving average price of $55.26 and a 200-day moving average price of $74.21. The stock has a market cap of $872.82 million, a PE ratio of 9.66 and a beta of 1.30. Eagle Pharmaceuticals, Inc. has a 52 week low of $45.05 and a 52 week high of $97.15.

Eagle Pharmaceuticals (NASDAQ:EGRX) last released its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.18. Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same period in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. Analysts anticipate that Eagle Pharmaceuticals, Inc. will post $3.70 earnings per share for the current year.

Eagle Pharmaceuticals announced that its board has approved a share buyback program on Wednesday, August 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty pharmaceutical company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Several equities research analysts have commented on the stock. BidaskClub cut shares of Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Mizuho dropped their price target on shares of Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating on the stock in a research report on Thursday, May 25th. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 31st. ValuEngine upgraded shares of Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 16th. Finally, Piper Jaffray Companies set a $75.00 price target on shares of Eagle Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Eagle Pharmaceuticals currently has an average rating of “Hold” and an average price target of $74.80.

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

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

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