Wall Street brokerages predict that Egalet (NASDAQ:EGLT) will announce $8.64 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Egalet’s earnings. The highest sales estimate is $8.78 million and the lowest is $8.50 million. Egalet reported sales of $6.26 million during the same quarter last year, which indicates a positive year over year growth rate of 38%. The company is expected to issue its next quarterly earnings results on Wednesday, August 8th.
On average, analysts expect that Egalet will report full-year sales of $34.53 million for the current financial year, with estimates ranging from $33.00 million to $35.30 million. For the next financial year, analysts expect that the business will report sales of $50.43 million per share, with estimates ranging from $45.00 million to $53.28 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Egalet.
Egalet (NASDAQ:EGLT) last issued its earnings results on Tuesday, May 8th. The specialty pharmaceutical company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The company had revenue of $6.26 million during the quarter, compared to analyst estimates of $8.10 million.
Egalet traded down $0.01, hitting $0.50, during midday trading on Friday, Marketbeat reports. The stock had a trading volume of 326,738 shares, compared to its average volume of 871,674. The firm has a market cap of $26.29 million, a price-to-earnings ratio of -0.20 and a beta of 0.68. The company has a quick ratio of 2.24, a current ratio of 2.29 and a debt-to-equity ratio of -3.00. Egalet has a 1-year low of $0.47 and a 1-year high of $3.47.
An institutional investor recently raised its position in Egalet stock. Renaissance Technologies LLC boosted its position in Egalet (NASDAQ:EGLT) by 1,540.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 721,800 shares of the specialty pharmaceutical company’s stock after buying an additional 677,800 shares during the period. Renaissance Technologies LLC owned approximately 1.57% of Egalet worth $722,000 at the end of the most recent quarter. 28.85% of the stock is owned by institutional investors.
Egalet Company Profile
Egalet Corporation, a specialty pharmaceutical company, develops, manufactures, and commercializes treatments for patients with pain and other conditions. It has licensed three approved pain products, such as SPRIX Nasal Spray, a non-steroidal anti-inflammatory drug indicated in adult patients for the short-term management of moderate to moderately severe pain that requires analgesia at the opioid level; OXAYDO, an immediate-release oxycodone product designed to discourage abuse via snorting for the management of acute and chronic pain severe enough to require an opioid analgesic, and for which alternative treatments are inadequate; and ARYMO ER, an extended-release (ER) morphine product formulated with abuse-deterrent (AD) properties for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.
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