Mizuho reaffirmed their sell rating on shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) in a research report released on Wednesday morning. Mizuho currently has a $37.00 price objective on the specialty pharmaceutical company’s stock.

“We view both these programs as zeroes. On the call, mgmt. highlighted its balance sheet flexibility and we continue to believe that the company needs to buy its way out of its current pipeline predicament, ahead of Treanda generics in 2019 (and expect capitulation on further Ryanodex development only after this deal is announced). We summarize 3Q:17 performance in Exhibit 1. We will update our valuation after further digesting call details.”,” Mizuho’s analyst commented.

Several other research analysts have also issued reports on EGRX. Royal Bank of Canada set a $94.00 target price on Eagle Pharmaceuticals and gave the stock a buy rating in a research report on Sunday, July 16th. BidaskClub lowered Eagle Pharmaceuticals from a hold rating to a sell rating in a research report on Sunday, July 16th. ValuEngine raised Eagle Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, October 2nd. Piper Jaffray Companies reissued a buy rating and issued a $75.00 target price on shares of Eagle Pharmaceuticals in a research report on Friday, October 27th. Finally, Zacks Investment Research lowered Eagle Pharmaceuticals from a hold rating to a strong sell rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $62.33.

Shares of Eagle Pharmaceuticals (NASDAQ EGRX) opened at $55.30 on Wednesday. Eagle Pharmaceuticals has a fifty-two week low of $45.05 and a fifty-two week high of $97.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.30 and a quick ratio of 3.76. The firm has a market capitalization of $797.26, a P/E ratio of 8.43 and a beta of 1.23.

Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings data on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.18). Eagle Pharmaceuticals had a return on equity of 62.60% and a net margin of 36.95%. The business had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $52.52 million. During the same quarter last year, the business posted $0.80 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. sell-side analysts forecast that Eagle Pharmaceuticals will post 3.59 earnings per share for the current year.

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Eagle Pharmaceuticals declared that its board has authorized a share buyback plan on Wednesday, August 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty pharmaceutical company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds have recently bought and sold shares of the stock. Kopp Investment Advisors LLC increased its position in Eagle Pharmaceuticals by 0.3% during the 2nd quarter. Kopp Investment Advisors LLC now owns 3,060 shares of the specialty pharmaceutical company’s stock valued at $241,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Eagle Pharmaceuticals by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,985 shares of the specialty pharmaceutical company’s stock worth $472,000 after purchasing an additional 16 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Eagle Pharmaceuticals by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,269 shares of the specialty pharmaceutical company’s stock worth $889,000 after purchasing an additional 82 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Eagle Pharmaceuticals by 2.4% in the 2nd quarter. D.A. Davidson & CO. now owns 4,350 shares of the specialty pharmaceutical company’s stock worth $343,000 after purchasing an additional 100 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of Eagle Pharmaceuticals by 6.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,910 shares of the specialty pharmaceutical company’s stock worth $151,000 after purchasing an additional 120 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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