Eagle Pharmaceuticals, Inc. (EGRX) Shares Sold by Symphony Asset Management LLC
Symphony Asset Management LLC cut its position in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 26.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,532 shares of the specialty pharmaceutical company’s stock after selling 1,658 shares during the quarter. Symphony Asset Management LLC’s holdings in Eagle Pharmaceuticals were worth $358,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its stake 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 valued at $125,000 after buying an additional 702 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake 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 valued at $128,000 after buying an additional 202 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake 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 valued at $151,000 after buying an additional 120 shares during the last quarter. Mason Street Advisors LLC lifted its stake 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 valued at $157,000 after buying an additional 175 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake 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 valued at $197,000 after buying an additional 1,908 shares during the last quarter.
In other Eagle Pharmaceuticals news, Director Douglas L. Braunstein acquired 20,400 shares of Eagle Pharmaceuticals stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $49.07 per share, with a total value of $1,001,028.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 19.50% of the stock is currently owned by insiders.
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Shares of Eagle Pharmaceuticals, Inc. (NASDAQ 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’s 50 day moving average is $54.14 and its 200-day moving average is $73.56. The company has a market capitalization of $911.81 million, a PE ratio of 10.09 and a beta of 1.30.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $52.52 million. During the same quarter last year, the company earned $0.80 earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. On average, analysts expect that Eagle Pharmaceuticals, Inc. will post $3.70 EPS for the current fiscal year.
Eagle Pharmaceuticals declared that its board has approved a share repurchase program on Wednesday, August 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty pharmaceutical company to buy up to 13.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
A number of research firms have issued reports on EGRX. BidaskClub cut Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 10th. Royal Bank Of Canada set a $94.00 target price on Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 16th. Mizuho cut their target price on Eagle Pharmaceuticals from $66.00 to $57.00 and set an “underperform” rating on the stock in a research note on Thursday, May 25th. Finally, ValuEngine cut Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.80.
Eagle Pharmaceuticals 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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