Eagle Pharmaceuticals Inc (NASDAQ:EGRX) Expected to Post Quarterly Sales of $51.33 Million
Brokerages expect Eagle Pharmaceuticals Inc (NASDAQ:EGRX) to report sales of $51.33 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Eagle Pharmaceuticals’ earnings. The lowest sales estimate is $51.16 million and the highest is $51.50 million. Eagle Pharmaceuticals posted sales of $59.30 million during the same quarter last year, which would indicate a negative year over year growth rate of 13.4%. The business is scheduled to issue its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Eagle Pharmaceuticals will report full-year sales of $218.33 million for the current financial year, with estimates ranging from $215.80 million to $220.86 million. For the next year, analysts anticipate that the firm will report sales of $254.76 million, with estimates ranging from $233.50 million to $276.01 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Eagle Pharmaceuticals.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.28. The firm had revenue of $49.80 million for the quarter, compared to analysts’ expectations of $47.03 million. Eagle Pharmaceuticals had a net margin of 17.67% and a return on equity of 21.38%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share.
NASDAQ:EGRX traded up $0.31 during mid-day trading on Friday, hitting $51.99. The stock had a trading volume of 106,086 shares, compared to its average volume of 158,760. The stock has a market cap of $724.17 million, a price-to-earnings ratio of 24.88 and a beta of 1.58. Eagle Pharmaceuticals has a twelve month low of $36.03 and a twelve month high of $85.66. The company has a quick ratio of 3.89, a current ratio of 4.12 and a debt-to-equity ratio of 0.21.
In other Eagle Pharmaceuticals news, Director Douglas L. Braunstein sold 159,223 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $56.81, for a total transaction of $9,045,458.63. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott Tarriff sold 24,975 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $50.15, for a total transaction of $1,252,496.25. Following the sale, the chief executive officer now directly owns 1,500,202 shares in the company, valued at approximately $75,235,130.30. The disclosure for this sale can be found here. 28.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in EGRX. JPMorgan Chase & Co. raised its holdings in Eagle Pharmaceuticals by 85.2% during the third quarter. JPMorgan Chase & Co. now owns 63,504 shares of the specialty pharmaceutical company’s stock worth $4,402,000 after purchasing an additional 29,215 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Eagle Pharmaceuticals by 41.0% in the 3rd quarter. Teachers Advisors LLC now owns 26,652 shares of the specialty pharmaceutical company’s stock valued at $1,848,000 after acquiring an additional 7,751 shares during the period. Vanguard Group Inc. increased its holdings in shares of Eagle Pharmaceuticals by 9.7% in the 3rd quarter. Vanguard Group Inc. now owns 674,951 shares of the specialty pharmaceutical company’s stock valued at $46,794,000 after acquiring an additional 59,474 shares during the period. Arizona State Retirement System increased its holdings in shares of Eagle Pharmaceuticals by 4.8% in the 4th quarter. Arizona State Retirement System now owns 16,937 shares of the specialty pharmaceutical company’s stock valued at $682,000 after acquiring an additional 775 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Eagle Pharmaceuticals by 39.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,018 shares of the specialty pharmaceutical company’s stock valued at $202,000 after acquiring an additional 1,430 shares during the period. 94.96% of the stock is currently owned by institutional investors.
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, an anti-coagulant thrombin inhibitor for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL); and Belrapzo, a chemotherapeutic agent for CLL and Indolent NHL.
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