Royal Bank of Canada set a $64.00 price objective on Eagle Pharmaceuticals (NASDAQ:EGRX) in a report issued on Friday morning, The Fly reports. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.
Several other analysts have also recently commented on the stock. Cantor Fitzgerald set a $81.00 price target on shares of Eagle Pharmaceuticals and gave the stock a buy rating in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of Eagle Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, October 9th. Piper Jaffray Companies set a $88.00 price target on shares of Eagle Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, August 7th. BidaskClub cut shares of Eagle Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, September 18th. Finally, TheStreet upgraded shares of Eagle Pharmaceuticals from a c rating to a b- rating in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $77.50.
EGRX stock traded up $0.62 during mid-day trading on Friday, hitting $51.69. The company had a trading volume of 4,786 shares, compared to its average volume of 337,974. The stock has a market cap of $761.61 million, a P/E ratio of 15.43 and a beta of 1.72. Eagle Pharmaceuticals has a 12-month low of $46.88 and a 12-month high of $85.66. The company has a quick ratio of 5.38, a current ratio of 5.59 and a debt-to-equity ratio of 0.20.
Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings results on Thursday, November 1st. The specialty pharmaceutical company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.91 by $0.27. The business had revenue of $51.34 million for the quarter, compared to analysts’ expectations of $52.70 million. Eagle Pharmaceuticals had a net margin of 13.92% and a return on equity of 17.62%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. On average, analysts anticipate that Eagle Pharmaceuticals will post 1.96 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter valued at about $108,000. Macquarie Group Ltd. grew its holdings in Eagle Pharmaceuticals by 400.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,500 shares of the specialty pharmaceutical company’s stock valued at $113,000 after purchasing an additional 1,200 shares during the last quarter. Acadian Asset Management LLC bought a new position in Eagle Pharmaceuticals during the 3rd quarter valued at about $115,000. Meeder Asset Management Inc. grew its holdings in Eagle Pharmaceuticals by 232.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,866 shares of the specialty pharmaceutical company’s stock valued at $141,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in Eagle Pharmaceuticals during the 2nd quarter valued at about $150,000.
About Eagle Pharmaceuticals
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).
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