Egalet Corp. (NASDAQ:EGLT) CFO Stan Musial sold 13,480 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $7.47, for a total value of $100,695.60. Following the completion of the sale, the chief financial officer now directly owns 67,980 shares in the company, valued at approximately $507,810.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Egalet Corp. (NASDAQ:EGLT) opened at 7.64 on Wednesday. The stock’s market cap is $187.51 million. Egalet Corp. has a 52-week low of $4.34 and a 52-week high of $11.96. The stock’s 50 day moving average price is $7.54 and its 200-day moving average price is $6.58.
Egalet Corp. (NASDAQ:EGLT) last issued its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.82) by $0.15. Egalet Corp. had a negative net margin of 244.57% and a negative return on equity of 86.03%. The business earned $3.45 million during the quarter, compared to analysts’ expectations of $3.83 million. During the same period in the prior year, the business posted ($1.03) EPS. The business’s revenue was up 259.4% on a year-over-year basis. On average, analysts predict that Egalet Corp. will post ($3.48) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of EGLT. Geode Capital Management LLC increased its position in shares of Egalet Corp. by 4.0% in the first quarter. Geode Capital Management LLC now owns 59,330 shares of the specialty pharmaceutical company’s stock worth $407,000 after buying an additional 2,300 shares in the last quarter. Deerfield Management Co. increased its position in shares of Egalet Corp. by 25.2% in the first quarter. Deerfield Management Co. now owns 597,123 shares of the specialty pharmaceutical company’s stock worth $4,096,000 after buying an additional 120,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Egalet Corp. by 337.4% in the second quarter. Bank of New York Mellon Corp now owns 54,334 shares of the specialty pharmaceutical company’s stock worth $270,000 after buying an additional 41,912 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Egalet Corp. during the second quarter worth approximately $230,000. Finally, New Jersey Better Educational Savings Trust acquired a new position in shares of Egalet Corp. during the second quarter worth approximately $367,000. 67.18% of the stock is currently owned by institutional investors and hedge funds.
EGLT has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $21.00 target price on Egalet Corp. and gave the company a “buy” rating in a research report on Saturday, August 6th. Gabelli started coverage on Egalet Corp. in a research report on Tuesday, September 13th. They issued a “buy” rating and a $9.50 target price on the stock. Finally, Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th.
About Egalet Corp.
Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.
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