Ajo LP grew its position in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 737.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 79,121 shares of the specialty pharmaceutical company’s stock after buying an additional 69,674 shares during the period. Ajo LP owned 0.52% of Eagle Pharmaceuticals worth $6,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGRX. Teachers Advisors LLC increased its stake in shares of Eagle Pharmaceuticals by 5.1% in the 4th quarter. Teachers Advisors LLC now owns 15,537 shares of the specialty pharmaceutical company’s stock valued at $1,233,000 after buying an additional 752 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Eagle Pharmaceuticals by 3.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the specialty pharmaceutical company’s stock valued at $274,000 after buying an additional 100 shares during the period. Strs Ohio acquired a new stake in shares of Eagle Pharmaceuticals in the 1st quarter valued at $663,000. Great West Life Assurance Co. Can increased its stake in shares of Eagle Pharmaceuticals by 9.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 11,244 shares of the specialty pharmaceutical company’s stock valued at $932,000 after buying an additional 981 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Eagle Pharmaceuticals by 15.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock valued at $128,000 after buying an additional 202 shares during the period.

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Several research firms have recently commented on EGRX. Mizuho lowered their target price on Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating for the company in a research note on Thursday, May 25th. BidaskClub cut Eagle Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research cut Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. Piper Jaffray Companies set a $75.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, ValuEngine cut Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Eagle Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $74.80.

Eagle Pharmaceuticals, Inc. (EGRX) opened at 60.11 on Friday. Eagle Pharmaceuticals, Inc. has a 52-week low of $45.05 and a 52-week high of $97.15. The company has a market capitalization of $911.81 million, a price-to-earnings ratio of 10.09 and a beta of 1.30. The stock has a 50 day moving average price of $54.14 and a 200 day moving average price of $73.56.

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

Eagle Pharmaceuticals announced that its board has authorized a share buyback plan on Wednesday, August 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty pharmaceutical company to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Douglas L. Braunstein acquired 20,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.50% of the company’s stock.

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.

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

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