Bank of Montreal Can purchased a new stake in Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 138,096 shares of the specialty pharmaceutical company’s stock, valued at approximately $5,356,000.
Several other institutional investors have also bought and sold shares of the company. Cormorant Asset Management LLC increased its position in Eagle Pharmaceuticals by 25.0% in the first quarter. Cormorant Asset Management LLC now owns 500,000 shares of the specialty pharmaceutical company’s stock valued at $20,250,000 after buying an additional 100,000 shares during the period. Royal Bank of Canada increased its position in Eagle Pharmaceuticals by 64.3% in the first quarter. Royal Bank of Canada now owns 11,934 shares of the specialty pharmaceutical company’s stock valued at $484,000 after buying an additional 4,670 shares during the period. LaSalle Street Capital Management LLC acquired a new position in Eagle Pharmaceuticals during the second quarter valued at approximately $304,000. Finally, State Street Corp increased its position in Eagle Pharmaceuticals by 64.3% in the first quarter. State Street Corp now owns 629,493 shares of the specialty pharmaceutical company’s stock valued at $25,489,000 after buying an additional 246,262 shares during the period.
Shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) traded down 3.83% during midday trading on Tuesday, reaching $64.70. 348,847 shares of the company were exchanged. Eagle Pharmaceuticals Inc. has a 52-week low of $33.02 and a 52-week high of $102.48. The company has a market capitalization of $1.01 billion, a PE ratio of 331.79 and a beta of 1.15. The stock’s 50-day moving average price is $63.65 and its 200-day moving average price is $49.07.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Eagle Pharmaceuticals had a net margin of 3.45% and a return on equity of 3.44%. The company earned $40.90 million during the quarter, compared to analyst estimates of $43.55 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The business’s quarterly revenue was up 581.7% compared to the same quarter last year. Analysts anticipate that Eagle Pharmaceuticals Inc. will post $3.21 EPS for the current year.
Several equities research analysts have recently issued reports on EGRX shares. Mizuho cut shares of Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $47.00 in a research report on Monday, June 20th. Zacks Investment Research raised shares of Eagle Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 20th. RBC Capital Markets reaffirmed an “outperform” rating and set a $80.00 price objective (up from $78.00) on shares of Eagle Pharmaceuticals in a research report on Thursday, September 22nd. TheStreet raised shares of Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $78.00 price objective on shares of Eagle Pharmaceuticals in a research report on Monday, June 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $90.24.
In other news, major shareholder Proquest Investments Iv, L.P. sold 99,795 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $61.36, for a total value of $6,123,421.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.80% of the stock is currently owned by insiders.
Eagle Pharmaceuticals Company Profile
Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).
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