Eagle Pharmaceuticals Inc (NASDAQ:EGRX) Sees Significant Increase in Short Interest

Eagle Pharmaceuticals Inc (NASDAQ:EGRX) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 1,690,000 shares, a growth of 8.3% from the December 15th total of 1,560,000 shares. Approximately 12.9% of the shares of the company are short sold. Based on an average daily trading volume, of 133,700 shares, the days-to-cover ratio is currently 12.6 days.

In related news, Director Hudson Executive Capital Lp sold 15,437 shares of Eagle Pharmaceuticals stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $63.57, for a total value of $981,330.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 19,486 shares of company stock valued at $1,234,640 over the last quarter. 31.70% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in EGRX. Wells Fargo & Company MN grew its stake in shares of Eagle Pharmaceuticals by 14.0% during the 2nd quarter. Wells Fargo & Company MN now owns 28,410 shares of the specialty pharmaceutical company’s stock valued at $1,581,000 after purchasing an additional 3,480 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Eagle Pharmaceuticals by 75.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 39,845 shares of the specialty pharmaceutical company’s stock valued at $2,218,000 after purchasing an additional 17,190 shares during the period. Bank of Montreal Can grew 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 valued at $71,000 after purchasing an additional 1,019 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Eagle Pharmaceuticals by 14.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 111,946 shares of the specialty pharmaceutical company’s stock valued at $6,234,000 after purchasing an additional 14,111 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of Eagle Pharmaceuticals by 18.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,408 shares of the specialty pharmaceutical company’s stock valued at $301,000 after purchasing an additional 857 shares during the period. Institutional investors and hedge funds own 95.25% of the company’s stock.

EGRX has been the subject of several research analyst reports. BidaskClub downgraded Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine downgraded Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, TheStreet downgraded Eagle Pharmaceuticals from a “b-” rating to a “c+” rating in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Eagle Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $60.25.

Shares of Eagle Pharmaceuticals stock traded up $1.13 during trading hours on Thursday, reaching $59.39. 60,894 shares of the stock traded hands, compared to its average volume of 134,446. The company has a 50 day moving average price of $58.91 and a 200 day moving average price of $57.97. The firm has a market capitalization of $802.29 million, a price-to-earnings ratio of 28.42 and a beta of 1.42. Eagle Pharmaceuticals has a one year low of $38.38 and a one year high of $64.94. The company has a quick ratio of 4.07, a current ratio of 4.24 and a debt-to-equity ratio of 0.20.

Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Tuesday, November 12th. The specialty pharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.17). The firm had revenue of $41.10 million for the quarter, compared to the consensus estimate of $45.44 million. Eagle Pharmaceuticals had a net margin of 12.72% and a return on equity of 16.07%. The company’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts anticipate that Eagle Pharmaceuticals will post 1.45 earnings per share for the current year.

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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