Shares of Egalet Corporation (NASDAQ:EGLT) have received an average rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One 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 average twelve-month target price among analysts that have covered the stock in the last year is $7.13.

Several analysts have recently issued reports on EGLT shares. Cantor Fitzgerald reissued a “buy” rating and set a $8.00 price objective on shares of Egalet Corporation in a research note on Thursday, June 1st. Guggenheim set a $7.00 price objective on shares of Egalet Corporation and gave the company a “buy” rating in a research note on Monday, August 14th. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price objective (down from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. JMP Securities lowered their price objective on shares of Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating for the company in a research note on Friday, July 14th. Finally, ValuEngine cut shares of Egalet Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd.

A number of institutional investors have recently made changes to their positions in EGLT. Teachers Advisors LLC boosted its position in Egalet Corporation by 10.1% during the 4th quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock worth $306,000 after purchasing an additional 3,666 shares during the period. SG Americas Securities LLC boosted its position in Egalet Corporation by 80.3% during the 1st quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock worth $155,000 after purchasing an additional 13,570 shares during the period. KCG Holdings Inc. boosted its position in Egalet Corporation by 81.0% during the 1st quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after purchasing an additional 19,116 shares during the period. HighTower Advisors LLC boosted its position in Egalet Corporation by 2.0% during the 1st quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock worth $1,358,000 after purchasing an additional 5,211 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Egalet Corporation by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock worth $109,000 after purchasing an additional 500 shares during the period. 32.61% of the stock is owned by hedge funds and other institutional investors.

Egalet Corporation (NASDAQ EGLT) opened at 1.44 on Wednesday. Egalet Corporation has a 1-year low of $1.01 and a 1-year high of $10.00. The firm’s 50-day moving average price is $1.21 and its 200-day moving average price is $2.84. The firm’s market capitalization is $37.82 million.

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

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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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