Egalet Corp (NASDAQ:EGLT) shares saw an uptick in trading volume on Monday following a better than expected earnings announcement. 6,204,798 shares traded hands during trading, an increase of 539% from the previous session’s volume of 971,221 shares.The stock last traded at $0.88 and had previously closed at $0.75.
The specialty pharmaceutical company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.11. The firm had revenue of $7.80 million during the quarter, compared to analyst estimates of $8.54 million.
Several analysts have recently issued reports on the company. Cantor Fitzgerald set a $4.00 price objective on Egalet and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus downgraded Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective on the stock. in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.50.
The company has a debt-to-equity ratio of -3.43, a quick ratio of 2.68 and a current ratio of 2.73. The firm has a market cap of $45.24, a PE ratio of -0.25 and a beta of 0.58.
Egalet Company Profile
Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.
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