Shares of Egalet Corp. (NASDAQ:EGLT) fell 5.1% during trading on Thursday following insider selling activity. The company traded as low as $6.85 and last traded at $6.93, with a volume of 352,196 shares changing hands. The stock had previously closed at $7.30.
Specifically, insider Robert S. Radie sold 15,000 shares of the 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 $112,050.00. Following the transaction, the insider now directly owns 234,900 shares in the company, valued at $1,754,703. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stan Musial sold 13,480 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $7.47, for a total transaction of $100,695.60. Following the completion of the transaction, the chief financial officer now owns 67,980 shares in the company, valued at $507,810.60. The disclosure for this sale can be found here. Insiders own 13.20% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Egalet Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Cantor Fitzgerald restated a “buy” rating on shares of Egalet Corp. in a report on Tuesday, June 28th. Finally, Gabelli assumed coverage on shares of Egalet Corp. in a report on Tuesday, September 13th. They issued a “buy” rating and a $9.50 price objective on the stock.
The company’s 50 day moving average is $7.47 and its 200 day moving average is $6.60. The stock’s market capitalization is $182.35 million.
Egalet Corp. (NASDAQ:EGLT) last released its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the 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 firm earned $3.45 million during the quarter, compared to the consensus estimate of $3.83 million. During the same period in the prior year, the business earned ($1.03) earnings per share. Egalet Corp.’s quarterly revenue was up 259.4% compared to the same quarter last year. On average, analysts forecast that Egalet Corp. will post ($3.48) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its position in Egalet Corp. by 16.2% in the second quarter. ProShare Advisors LLC now owns 21,386 shares of the specialty pharmaceutical company’s stock valued at $106,000 after buying an additional 2,977 shares in the last quarter. Rhumbline Advisers purchased a new position in Egalet Corp. during the second quarter valued at approximately $125,000. Schwab Charles Investment Management Inc. purchased a new position in Egalet Corp. during the second quarter valued at approximately $177,000. Teachers Advisors Inc. purchased a new position in Egalet Corp. during the second quarter valued at approximately $180,000. Finally, California State Teachers Retirement System purchased a new position in Egalet Corp. during the second quarter valued at approximately $230,000. 67.18% of the stock is currently owned by hedge funds and other institutional investors.
Egalet Corp. Company Profile
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.
Receive News & Ratings for Egalet Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Egalet Corp. and related companies with MarketBeat.com's FREE daily email newsletter.