Eagle Pharmaceuticals (NASDAQ:EGRX) Downgraded to Hold at ValuEngine

ValuEngine cut shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a buy rating to a hold rating in a research note published on Saturday, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. TheStreet raised shares of Eagle Pharmaceuticals from a c+ rating to a b- rating in a research note on Thursday, September 19th. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a hold rating to a strong sell rating in a research note on Thursday, October 17th. BidaskClub raised shares of Eagle Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada reissued a buy rating and issued a $66.00 price objective on shares of Eagle Pharmaceuticals in a research note on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $59.00.

Shares of NASDAQ:EGRX opened at $62.34 on Friday. The company’s 50 day simple moving average is $58.31 and its 200 day simple moving average is $54.90. The stock has a market capitalization of $843.38 million, a price-to-earnings ratio of 29.83 and a beta of 1.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.59 and a quick ratio of 3.36. Eagle Pharmaceuticals has a 1 year low of $36.03 and a 1 year high of $63.45.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. As a group, analysts anticipate that Eagle Pharmaceuticals will post 2.04 EPS for the current fiscal year.

In other Eagle Pharmaceuticals news, Director Hudson Executive Capital Lp sold 1,112 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $60.06, for a total value of $66,786.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 31,693 shares of company stock worth $1,949,432 in the last 90 days. Company insiders own 31.70% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. lifted its holdings in shares of Eagle Pharmaceuticals by 57.8% in the 1st quarter. Marshall Wace North America L.P. now owns 5,956 shares of the specialty pharmaceutical company’s stock worth $301,000 after purchasing an additional 2,182 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Eagle Pharmaceuticals in the 2nd quarter worth approximately $314,000. Scout Investments Inc. lifted its holdings in shares of Eagle Pharmaceuticals by 79.7% in the 2nd quarter. Scout Investments Inc. now owns 98,810 shares of the specialty pharmaceutical company’s stock worth $5,502,000 after purchasing an additional 43,815 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Eagle Pharmaceuticals in the 2nd quarter worth approximately $206,000. Finally, Foundry Partners LLC lifted its holdings in shares of Eagle Pharmaceuticals by 865.6% in the 2nd quarter. Foundry Partners LLC now owns 73,385 shares of the specialty pharmaceutical company’s stock worth $4,086,000 after purchasing an additional 65,785 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

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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