Eagle Pharmaceuticals, Inc. (EGRX) Holdings Increased by Old Mutual Global Investors UK Ltd.
Old Mutual Global Investors UK Ltd. boosted its position in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 271.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 386,132 shares of the specialty pharmaceutical company’s stock after acquiring an additional 282,225 shares during the period. Old Mutual Global Investors UK Ltd. owned about 2.55% of Eagle Pharmaceuticals worth $23,028,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in EGRX. AQR Capital Management LLC grew its stake in shares of Eagle Pharmaceuticals by 74.4% during the 1st quarter. AQR Capital Management LLC now owns 34,547 shares of the specialty pharmaceutical company’s stock valued at $2,865,000 after buying an additional 14,743 shares during the period. James Investment Research Inc. purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter valued at $1,142,000. Argent Capital Management LLC purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter valued at $686,000. Thrivent Financial For Lutherans grew its stake in shares of Eagle Pharmaceuticals by 9.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 4,600 shares of the specialty pharmaceutical company’s stock valued at $382,000 after buying an additional 400 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Eagle Pharmaceuticals by 7,357.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 46,084 shares of the specialty pharmaceutical company’s stock valued at $3,634,000 after buying an additional 45,466 shares during the period.
Several brokerages have recently issued reports on EGRX. Piper Jaffray Companies reissued a “buy” rating and set a $75.00 price objective on shares of Eagle Pharmaceuticals in a research note on Friday, October 27th. ValuEngine raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho lowered their price objective on shares of Eagle Pharmaceuticals from $40.00 to $37.00 and set an “underperform” rating for the company in a research note on Wednesday, September 6th. BidaskClub raised shares of Eagle Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $64.33.
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Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) opened at $61.48 on Wednesday. Eagle Pharmaceuticals, Inc. has a 12-month low of $45.05 and a 12-month high of $97.15. The firm has a market cap of $863.89, a price-to-earnings ratio of 9.49 and a beta of 1.23.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.18). Eagle Pharmaceuticals had a return on equity of 66.30% and a net margin of 39.32%. The firm had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. analysts predict that Eagle Pharmaceuticals, Inc. will post 3.59 EPS for the current year.
Eagle Pharmaceuticals declared that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the specialty pharmaceutical company to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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