Tiverton Asset Management LLC Has $170,000 Position in Egalet Corporation (EGLT)
Tiverton Asset Management LLC lessened its stake in Egalet Corporation (NASDAQ:EGLT) by 24.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,758 shares of the specialty pharmaceutical company’s stock after selling 23,854 shares during the quarter. Tiverton Asset Management LLC owned about 0.29% of Egalet Corporation worth $170,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EGLT. LMR Partners LLP acquired a new position in Egalet Corporation in the second quarter valued at about $179,000. KCG Holdings Inc. raised its stake in Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock valued at $218,000 after purchasing an additional 19,116 shares in the last quarter. SG Americas Securities LLC raised its stake in Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock valued at $155,000 after purchasing an additional 13,570 shares in the last quarter. HighTower Advisors LLC raised its stake in Egalet Corporation by 2.0% in the first quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock valued at $1,358,000 after purchasing an additional 5,211 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust raised its stake in Egalet Corporation by 4.0% in the second quarter. New Jersey Better Educational Savings Trust now owns 104,000 shares of the specialty pharmaceutical company’s stock valued at $246,000 after purchasing an additional 4,000 shares in the last quarter. 32.61% of the stock is owned by institutional investors and hedge funds.
Egalet Corporation (NASDAQ:EGLT) opened at 1.54 on Friday. Egalet Corporation has a 1-year low of $1.01 and a 1-year high of $10.00. The firm’s market cap is $40.45 million. The company has a 50-day moving average price of $1.21 and a 200-day moving average price of $2.77.
Egalet Corporation (NASDAQ:EGLT) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.10). Egalet Corporation had a negative return on equity of 607.49% and a negative net margin of 444.50%. The company had revenue of $6.26 million during the quarter, compared to the consensus estimate of $6.68 million. During the same quarter in the prior year, the business earned ($0.97) EPS. The firm’s revenue for the quarter was up 81.4% compared to the same quarter last year. On average, equities research analysts forecast that Egalet Corporation will post ($2.75) EPS for the current fiscal year.
A number of research analysts recently commented on the company. Guggenheim set a $7.00 price target on Egalet Corporation and gave the company a “buy” rating in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $6.00 price target (down previously from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Egalet Corporation in a research note on Monday, August 14th. JMP Securities dropped their price target on 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 downgraded Egalet Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $6.50.
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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.
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