Eagle Pharmaceuticals (NASDAQ:EGRX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Eagle Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The Company markets EP-1101 to treat heparin-induced thrombocytopenia. It develops EP-3101, EP-3102, Ryanodex and EP-4104. Eagle Pharmaceuticals, Inc. is based in Woodcliff Lake, New Jersey. “

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald reaffirmed a buy rating and set a $15.00 target price on shares of Foamix Pharmaceuticals in a research report on Tuesday, May 7th. Mizuho reaffirmed a buy rating and set a $37.00 target price on shares of Revance Therapeutics in a research report on Wednesday, April 24th. BidaskClub raised DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research report on Thursday, June 13th. Finally, ValuEngine raised Xylem from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $58.20.

Shares of Eagle Pharmaceuticals stock opened at $54.20 on Wednesday. The stock’s fifty day moving average is $53.79. The firm has a market capitalization of $750.66 million, a price-to-earnings ratio of 25.93 and a beta of 1.51. The company has a quick ratio of 3.89, a current ratio of 4.12 and a debt-to-equity ratio of 0.21. Eagle Pharmaceuticals has a 12-month low of $36.03 and a 12-month high of $85.66.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.28. The company had revenue of $49.80 million for the quarter, compared to analyst estimates of $47.03 million. Eagle Pharmaceuticals had a return on equity of 21.38% and a net margin of 17.67%. Eagle Pharmaceuticals’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, equities analysts anticipate that Eagle Pharmaceuticals will post 1.75 earnings per share for the current fiscal year.

In related news, Director Douglas L. Braunstein sold 159,223 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $56.81, for a total transaction of $9,045,458.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.70% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in Eagle Pharmaceuticals by 156.8% during the first quarter. PNC Financial Services Group Inc. now owns 642 shares of the specialty pharmaceutical company’s stock valued at $32,000 after buying an additional 392 shares during the period. Quantamental Technologies LLC acquired a new position in Eagle Pharmaceuticals during the first quarter valued at $79,000. Flinton Capital Management LLC raised its position in Eagle Pharmaceuticals by 23.9% during the fourth quarter. Flinton Capital Management LLC now owns 2,464 shares of the specialty pharmaceutical company’s stock valued at $99,000 after buying an additional 476 shares during the period. BNP Paribas Arbitrage SA raised its position in Eagle Pharmaceuticals by 545.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,602 shares of the specialty pharmaceutical company’s stock valued at $131,000 after buying an additional 2,199 shares during the period. Finally, Neuburgh Advisers LLC raised its position in Eagle Pharmaceuticals by 23.9% during the fourth quarter. Neuburgh Advisers LLC now owns 2,992 shares of the specialty pharmaceutical company’s stock valued at $121,000 after buying an additional 578 shares during the period. 94.89% of the stock is currently owned by hedge funds and other 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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