Eagle Pharmaceuticals, Inc. (EGRX) Receives $72.50 Consensus Target Price from Analysts
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) have earned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $72.50.
Several equities analysts have weighed in on EGRX shares. Royal Bank Of Canada set a $94.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 10th. Piper Jaffray Companies set a $118.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, July 25th. BidaskClub downgraded Eagle Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, ValuEngine downgraded Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
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Eagle Pharmaceuticals (NASDAQ:EGRX) traded up 1.81% on Wednesday, hitting $60.11. 791,459 shares of the stock were exchanged. The stock’s 50 day moving average price is $54.14 and its 200 day moving average price is $73.56. Eagle Pharmaceuticals has a 52-week low of $45.05 and a 52-week high of $97.15. The firm has a market cap of $911.81 million, a PE ratio of 10.09 and a beta of 1.30.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.18). The business had revenue of $50.10 million for the quarter, compared to analyst estimates of $52.52 million. Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 earnings per share. Equities research analysts forecast that Eagle Pharmaceuticals will post $3.70 earnings per share for the current year.
Eagle Pharmaceuticals announced that its board has authorized a stock repurchase program on Wednesday, August 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty pharmaceutical company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Eagle Pharmaceuticals news, Director Douglas L. Braunstein bought 20,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $49.07 per share, for a total transaction of $1,001,028.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.50% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its stake in Eagle Pharmaceuticals by 52.8% during the second quarter. Advisory Services Network LLC now owns 12,225 shares of the specialty pharmaceutical company’s stock worth $964,000 after purchasing an additional 4,225 shares during the last quarter. U S Global Investors Inc. purchased a new stake in Eagle Pharmaceuticals during the second quarter worth approximately $1,097,000. Public Employees Retirement System of Ohio purchased a new stake in Eagle Pharmaceuticals during the second quarter worth approximately $650,000. Argent Capital Management LLC purchased a new stake in Eagle Pharmaceuticals during the second quarter worth approximately $686,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Eagle Pharmaceuticals during the second quarter worth approximately $276,000.
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.
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