Eagle Pharmaceuticals (NASDAQ:EGRX) Rating Lowered to Hold at StockNews.com

Eagle Pharmaceuticals (NASDAQ:EGRX – Get Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Eagle Pharmaceuticals Stock Down 2.6 %

Shares of Eagle Pharmaceuticals stock traded down $0.86 during midday trading on Tuesday, reaching $32.78. 87,291 shares of the company’s stock traded hands, compared to its average volume of 150,799. The company has a market cap of $426.66 million, a price-to-earnings ratio of 17.07 and a beta of 0.88. The company’s 50 day simple moving average is $32.35 and its 200 day simple moving average is $33.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 1.52. Eagle Pharmaceuticals has a 52 week low of $24.35 and a 52 week high of $53.78.

Eagle Pharmaceuticals (NASDAQ:EGRX – Get Rating) last posted its earnings results on Monday, November 7th. The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.50). Eagle Pharmaceuticals had a net margin of 8.35% and a return on equity of 11.55%. The firm had revenue of $65.90 million during the quarter, compared to analyst estimates of $59.37 million. Equities analysts expect that Eagle Pharmaceuticals will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its stake in Eagle Pharmaceuticals by 52.3% in the 2nd quarter. US Bancorp DE now owns 879 shares of the specialty pharmaceutical company’s stock valued at $39,000 after buying an additional 302 shares during the last quarter. State of Alaska Department of Revenue grew its position in Eagle Pharmaceuticals by 6.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,449 shares of the specialty pharmaceutical company’s stock worth $375,000 after purchasing an additional 540 shares during the last quarter. Summit Global Investments grew its position in Eagle Pharmaceuticals by 1.7% in the 3rd quarter. Summit Global Investments now owns 34,325 shares of the specialty pharmaceutical company’s stock worth $907,000 after purchasing an additional 587 shares during the last quarter. Martingale Asset Management L P grew its position in Eagle Pharmaceuticals by 4.6% in the 3rd quarter. Martingale Asset Management L P now owns 14,756 shares of the specialty pharmaceutical company’s stock worth $391,000 after purchasing an additional 651 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Eagle Pharmaceuticals by 7.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 10,180 shares of the specialty pharmaceutical company’s stock worth $517,000 after purchasing an additional 686 shares during the last quarter. 88.09% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Pharmaceuticals

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Eagle Pharmaceuticals, Inc, a pharmaceutical company, focuses on developing and commercializing product candidates to treat diseases of the central nervous system or metabolic critical care, and oncology in the United States. The company offers Ryanodex for malignant hyperthermia; and Belrapzo and Bendeka for chronic lymphocytic leukemia and indolent B-cell non-Hodgkin's lymphoma.