Egalet Corporation (EGLT) Downgraded to Hold at Gabelli
A number of other analysts have also issued reports on the company. Stifel Nicolaus reaffirmed a buy rating and issued a $6.00 target price (down previously from $14.00) on shares of Egalet Corporation in a report on Thursday, August 10th. Cantor Fitzgerald reissued an overweight rating on shares of Egalet Corporation in a report on Sunday, August 20th. JMP Securities decreased their price objective on Egalet Corporation from $15.00 to $6.00 and set a market outperform rating on the stock in a report on Friday, July 14th. Finally, Guggenheim set a $7.00 price objective on Egalet Corporation and gave the stock a buy rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $7.10.
Egalet Corporation (NASDAQ EGLT) traded down $0.04 on Thursday, reaching $0.86. The company’s stock had a trading volume of 538,600 shares, compared to its average volume of 593,582. The company has a current ratio of 2.73, a quick ratio of 3.04 and a debt-to-equity ratio of -3.43. Egalet Corporation has a 12-month low of $0.85 and a 12-month high of $10.00.
Egalet Corporation (NASDAQ:EGLT) last released its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.10). The business had revenue of $6.26 million during the quarter, compared to analyst estimates of $6.68 million. Egalet Corporation had a negative net margin of 376.62% and a negative return on equity of 607.49%. The business’s quarterly revenue was up 81.4% compared to the same quarter last year. During the same period last year, the business earned ($0.97) EPS. research analysts expect that Egalet Corporation will post -2.85 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in EGLT. Janney Montgomery Scott LLC grew its holdings in shares of Egalet Corporation by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock worth $109,000 after purchasing an additional 500 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Egalet Corporation during the 2nd quarter worth approximately $179,000. Virtu KCG Holdings LLC grew its holdings in shares of Egalet Corporation by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 37,155 shares in the last quarter. KCG Holdings Inc. grew its holdings in shares of Egalet Corporation by 81.0% during the 1st quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after purchasing an additional 19,116 shares in the last quarter. Finally, New Jersey Better Educational Savings Trust grew its holdings in shares of Egalet Corporation by 4.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 104,000 shares of the specialty pharmaceutical company’s stock worth $246,000 after purchasing an additional 4,000 shares in the last quarter. 33.41% of the stock is currently owned by institutional investors.
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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