Eagle Pharmaceuticals Inc (NASDAQ:EGRX) Expected to Announce Earnings of $0.87 Per Share

Equities research analysts forecast that Eagle Pharmaceuticals Inc (NASDAQ:EGRX) will announce earnings of $0.87 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Eagle Pharmaceuticals’ earnings, with the highest EPS estimate coming in at $0.93 and the lowest estimate coming in at $0.80. Eagle Pharmaceuticals posted earnings per share of $1.18 during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.3%. The company is scheduled to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that Eagle Pharmaceuticals will report full-year earnings of $3.64 per share for the current financial year, with EPS estimates ranging from $3.41 to $3.95. For the next financial year, analysts forecast that the company will post earnings of $4.16 per share, with EPS estimates ranging from $3.10 to $5.26. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Eagle Pharmaceuticals.

Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.17. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. The firm had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter last year, the company posted $0.99 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year.

Several brokerages have weighed in on EGRX. Zacks Investment Research raised Eagle Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research report on Wednesday, August 14th. ValuEngine cut Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. BidaskClub upgraded Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $66.00 target price on shares of Eagle Pharmaceuticals in a research note on Sunday, August 11th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $58.80.

A number of hedge funds have recently added to or reduced their stakes in EGRX. PNC Financial Services Group Inc. increased its holdings in Eagle Pharmaceuticals by 156.8% in 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 in the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of Eagle Pharmaceuticals in the second quarter worth about $33,000. First Quadrant L P CA acquired a new position in shares of Eagle Pharmaceuticals in the second quarter worth about $34,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter worth about $39,000. Finally, Bank of Montreal Can boosted its stake in shares of Eagle Pharmaceuticals by 395.0% during the 2nd quarter. Bank of Montreal Can now owns 1,277 shares of the specialty pharmaceutical company’s stock worth $71,000 after acquiring an additional 1,019 shares in the last quarter. Institutional investors own 97.51% of the company’s stock.

NASDAQ EGRX traded up $1.99 on Friday, reaching $59.98. 143,370 shares of the company’s stock traded hands, compared to its average volume of 178,979. Eagle Pharmaceuticals has a fifty-two week low of $36.03 and a fifty-two week high of $70.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.36 and a current ratio of 3.59. The firm has a market cap of $793.54 million, a price-to-earnings ratio of 28.70 and a beta of 1.42. The stock has a 50 day moving average price of $56.19 and a 200-day moving average price of $52.87.

About Eagle Pharmaceuticals

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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