California Public Employees Retirement System purchased a new position in shares of Eagle Pharmaceuticals Inc (NASDAQ:EGRX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,754 shares of the specialty pharmaceutical company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently added to or reduced their stakes in EGRX. Metropolitan Life Insurance Co. NY boosted its position in Eagle Pharmaceuticals by 22.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 3,513 shares of the specialty pharmaceutical company’s stock valued at $266,000 after buying an additional 642 shares during the period. MetLife Investment Advisors LLC boosted its position in Eagle Pharmaceuticals by 22.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 4,988 shares of the specialty pharmaceutical company’s stock valued at $377,000 after buying an additional 915 shares during the period. Macquarie Group Ltd. boosted its position in Eagle Pharmaceuticals by 400.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,500 shares of the specialty pharmaceutical company’s stock valued at $113,000 after buying an additional 1,200 shares during the period. Meeder Asset Management Inc. boosted its position in Eagle Pharmaceuticals by 232.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,866 shares of the specialty pharmaceutical company’s stock valued at $141,000 after buying an additional 1,305 shares during the period. Finally, Legal & General Group Plc boosted its position in Eagle Pharmaceuticals by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 17,758 shares of the specialty pharmaceutical company’s stock valued at $1,346,000 after buying an additional 1,385 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:EGRX opened at $50.44 on Friday. Eagle Pharmaceuticals Inc has a one year low of $46.88 and a one year high of $85.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.59 and a quick ratio of 5.38. The stock has a market capitalization of $752.97 million, a PE ratio of 14.97 and a beta of 1.72.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings results on Thursday, November 1st. The specialty pharmaceutical company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.91 by $0.27. Eagle Pharmaceuticals had a net margin of 13.92% and a return on equity of 17.62%. The business had revenue of $51.34 million during the quarter, compared to analyst estimates of $52.70 million. During the same quarter in the previous year, the business posted $1.22 EPS. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. Research analysts forecast that Eagle Pharmaceuticals Inc will post 2.03 earnings per share for the current year.

Several research firms have issued reports on EGRX. BidaskClub raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Royal Bank of Canada set a $84.00 price objective on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 8th. Piper Jaffray Companies set a $88.00 price objective on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, TheStreet cut shares of Eagle Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $77.17.

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Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The company offers argatroban for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; non-alcohol docetaxel injection, a chemotherapeutic agent for breast, non-small cell lung, prostate, head, and neck cancers/gastric adenocarcinoma; and Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL).

Featured Article: Institutional Investors

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

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