Eagle Pharmaceuticals, Inc. (EGRX) Receives Consensus Rating of “Hold” from Brokerages
Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) has been given an average rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $72.50.
A number of brokerages recently issued reports on EGRX. BidaskClub lowered Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada set a $94.00 price target on Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, July 16th. ValuEngine upgraded Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Mizuho lowered their price target on Eagle Pharmaceuticals from $40.00 to $37.00 and set an “underperform” rating for the company in a report on Wednesday, September 6th.
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Shares of Eagle Pharmaceuticals (NASDAQ EGRX) traded down 2.62% on Friday, hitting $58.25. The stock had a trading volume of 375,773 shares. Eagle Pharmaceuticals has a 52-week low of $45.05 and a 52-week high of $97.15. The company has a market cap of $883.59 million, a P/E ratio of 9.78 and a beta of 1.31. The company has a 50-day moving average of $57.49 and a 200-day moving average of $71.39.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results 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 firm had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $52.52 million. Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, equities analysts anticipate that Eagle Pharmaceuticals will post $3.70 EPS for the current fiscal year.
Eagle Pharmaceuticals declared that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty pharmaceutical company to reacquire up to 13.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other Eagle Pharmaceuticals news, Director Douglas L. Braunstein acquired 20,400 shares of Eagle Pharmaceuticals stock in a transaction that occurred on Wednesday, August 9th. The stock was 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 can be accessed through this link. Insiders own 19.50% of the company’s stock.
A number of large investors have recently modified their holdings of EGRX. State of Alaska Department of Revenue raised 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 worth $125,000 after buying an additional 702 shares in the last quarter. BNP Paribas Arbitrage SA raised 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 worth $128,000 after buying an additional 202 shares in the last quarter. Municipal Employees Retirement System of Michigan raised 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 worth $151,000 after buying an additional 120 shares in the last quarter. Mason Street Advisors LLC raised 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 worth $157,000 after buying an additional 175 shares in the last quarter. Finally, Bank of Montreal Can raised 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 worth $197,000 after buying an additional 1,908 shares in the last quarter.
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.
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