Eagle Pharmaceuticals (EGRX) Stock Rating Upgraded by Zacks Investment Research

Eagle Pharmaceuticals (NASDAQ:EGRX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, 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. “

Several other analysts also recently issued reports on EGRX. Cantor Fitzgerald restated a “hold” rating and issued a $58.00 price target on shares of Eagle Pharmaceuticals in a research note on Tuesday, May 7th. BidaskClub cut Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. ValuEngine raised Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Mizuho lifted their price objective on Eagle Pharmaceuticals from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $65.17.

Shares of NASDAQ EGRX opened at $55.88 on Monday. The company has a quick ratio of 3.92, 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. The company has a market cap of $774.04 million, a PE ratio of 26.74 and a beta of 1.67.

Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.28. Eagle Pharmaceuticals had a return on equity of 21.38% and a net margin of 17.67%. The company had revenue of $49.80 million during the quarter, compared to the consensus estimate of $47.03 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts expect that Eagle Pharmaceuticals will post 1.88 EPS for the current year.

In other news, Director Douglas L. Braunstein sold 159,223 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Tarriff sold 24,975 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $50.15, for a total value of $1,252,496.25. Following the transaction, the chief executive officer now directly owns 1,500,202 shares of the company’s stock, valued at approximately $75,235,130.30. The disclosure for this sale can be found here. Insiders sold a total of 208,626 shares of company stock valued at $11,547,936 over the last ninety days. Insiders own 28.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System raised its holdings in shares of Eagle Pharmaceuticals by 2.2% during the 1st quarter. New York State Teachers Retirement System now owns 9,677 shares of the specialty pharmaceutical company’s stock worth $489,000 after buying an additional 208 shares in the last quarter. Campbell Newman Asset Management Inc. raised its holdings in shares of Eagle Pharmaceuticals by 2.5% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 9,437 shares of the specialty pharmaceutical company’s stock worth $476,000 after buying an additional 234 shares in the last quarter. Carillon Tower Advisers Inc. raised its holdings in shares of Eagle Pharmaceuticals by 0.6% during the 1st quarter. Carillon Tower Advisers Inc. now owns 53,496 shares of the specialty pharmaceutical company’s stock worth $2,701,000 after buying an additional 300 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Eagle Pharmaceuticals by 156.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 642 shares of the specialty pharmaceutical company’s stock worth $32,000 after buying an additional 392 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Eagle Pharmaceuticals by 1.4% during the 4th quarter. Legal & General Group Plc now owns 29,746 shares of the specialty pharmaceutical company’s stock worth $1,190,000 after buying an additional 416 shares in the last quarter. 94.36% of the stock is 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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