Pictet Asset Management Ltd. purchased a new stake in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,200 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,861,000. Pictet Asset Management Ltd. owned approximately 0.21% of Eagle Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in Eagle Pharmaceuticals in the first quarter worth $406,000. Teachers Advisors LLC increased its position in Eagle Pharmaceuticals by 2.4% in the first quarter. Teachers Advisors LLC now owns 15,917 shares of the specialty pharmaceutical company’s stock worth $1,320,000 after buying an additional 380 shares during the period. Legal & General Group Plc increased its position in Eagle Pharmaceuticals by 8.3% in the first quarter. Legal & General Group Plc now owns 14,421 shares of the specialty pharmaceutical company’s stock worth $1,196,000 after buying an additional 1,104 shares during the period. Thrivent Financial For Lutherans increased its position in Eagle Pharmaceuticals by 9.5% in the first quarter. Thrivent Financial For Lutherans now owns 4,600 shares of the specialty pharmaceutical company’s stock worth $382,000 after buying an additional 400 shares during the period. Finally, Vanguard Group Inc. increased its position in Eagle Pharmaceuticals by 6.8% in the first quarter. Vanguard Group Inc. now owns 458,060 shares of the specialty pharmaceutical company’s stock worth $37,991,000 after buying an additional 29,339 shares during the period.

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Several equities research analysts have weighed in on the company. Zacks Investment Research lowered Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 31st. Mizuho dropped their target price on Eagle Pharmaceuticals from $57.00 to $40.00 and set an “underperform” rating on the stock in a research report on Thursday, July 27th. ValuEngine raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub raised Eagle Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies set a $75.00 target price on Eagle Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Eagle Pharmaceuticals presently has an average rating of “Hold” and an average target price of $62.33.

Eagle Pharmaceuticals, Inc. (EGRX) opened at $55.16 on Wednesday. The company has a market capitalization of $806.07, a price-to-earnings ratio of 8.52 and a beta of 1.23. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.26. Eagle Pharmaceuticals, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $97.15.

Eagle Pharmaceuticals declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty pharmaceutical company to purchase up to 13.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Eagle Pharmaceuticals Profile

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.

Institutional Ownership by Quarter for Eagle Pharmaceuticals (NASDAQ:EGRX)

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