Insider Selling: Eagle Pharmaceuticals Inc (EGRX) Director Sells 159,223 Shares of Stock

Eagle Pharmaceuticals Inc (NASDAQ:EGRX) Director Douglas L. Braunstein sold 159,223 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this hyperlink.

EGRX stock opened at $54.79 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.12 and a quick ratio of 3.89. Eagle Pharmaceuticals Inc has a one year low of $36.03 and a one year high of $85.66. The company has a market capitalization of $774.06 million, a price-to-earnings ratio of 26.22 and a beta of 1.67.

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

Several institutional investors have recently made changes to their positions in EGRX. Bank of New York Mellon Corp boosted its stake in shares of Eagle Pharmaceuticals by 15.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 177,619 shares of the specialty pharmaceutical company’s stock valued at $12,314,000 after purchasing an additional 23,903 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Eagle Pharmaceuticals by 57.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 83,246 shares of the specialty pharmaceutical company’s stock valued at $5,771,000 after purchasing an additional 30,410 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Eagle Pharmaceuticals by 85.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,504 shares of the specialty pharmaceutical company’s stock valued at $4,402,000 after purchasing an additional 29,215 shares in the last quarter. Man Group plc purchased a new stake in shares of Eagle Pharmaceuticals in the 3rd quarter valued at $331,000. Finally, MetLife Investment Advisors LLC boosted its stake in shares of Eagle Pharmaceuticals by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,739 shares of the specialty pharmaceutical company’s stock valued at $537,000 after purchasing an additional 2,751 shares in the last quarter. 94.36% of the stock is owned by institutional investors.

A number of equities analysts have commented on EGRX shares. Royal Bank of Canada set a $66.00 price target on shares of Eagle Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, February 1st. BidaskClub raised shares of Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. ValuEngine raised shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $58.00 price target on shares of Eagle Pharmaceuticals in a research note on Thursday, February 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Eagle Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $65.17.

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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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