Eagle Pharmaceuticals (NASDAQ:EGRX) Rating Lowered to Hold at ValuEngine

Eagle Pharmaceuticals (NASDAQ:EGRX) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Saturday, ValuEngine reports.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $66.00 price target on shares of Eagle Pharmaceuticals in a research report on Sunday, August 11th. TheStreet raised shares of Eagle Pharmaceuticals from a “c+” rating to a “b-” rating in a research report on Thursday, September 19th. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, BidaskClub raised shares of Eagle Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Eagle Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $59.00.

Shares of EGRX opened at $61.71 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.36 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $854.32 million, a P/E ratio of 29.53 and a beta of 1.41. The firm’s fifty day simple moving average is $57.84 and its two-hundred day simple moving average is $54.67. Eagle Pharmaceuticals has a 12 month low of $36.03 and a 12 month high of $62.98.

Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.17. The business had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $53.61 million. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, research analysts predict that Eagle Pharmaceuticals will post 2.04 EPS for the current fiscal year.

In other news, Director Hudson Executive Capital Lp sold 4,901 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $60.11, for a total transaction of $294,599.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 31,693 shares of company stock worth $1,949,432 in the last three months. Insiders own 31.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its position in shares of Eagle Pharmaceuticals by 2.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,677 shares of the specialty pharmaceutical company’s stock worth $483,000 after purchasing an additional 214 shares in the last quarter. US Bancorp DE boosted its position in shares of Eagle Pharmaceuticals by 5.4% during the 2nd quarter. US Bancorp DE now owns 8,269 shares of the specialty pharmaceutical company’s stock worth $460,000 after purchasing an additional 427 shares in the last quarter. Strs Ohio lifted its position in Eagle Pharmaceuticals by 4.2% in the 2nd quarter. Strs Ohio now owns 12,400 shares of the specialty pharmaceutical company’s stock valued at $690,000 after acquiring an additional 500 shares in the last quarter. Northern Trust Corp lifted its position in Eagle Pharmaceuticals by 0.4% in the 2nd quarter. Northern Trust Corp now owns 145,597 shares of the specialty pharmaceutical company’s stock valued at $8,106,000 after acquiring an additional 529 shares in the last quarter. Finally, Magnetar Financial LLC lifted its position in Eagle Pharmaceuticals by 3.7% in the 2nd quarter. Magnetar Financial LLC now owns 15,512 shares of the specialty pharmaceutical company’s stock valued at $864,000 after acquiring an additional 560 shares in the last quarter. 97.51% 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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