Mizuho restated their sell rating on shares of Eagle Pharmaceuticals (NASDAQ:EGRX) in a research report released on Monday morning. They currently have a $37.00 target price on the specialty pharmaceutical company’s stock.
“We attribute the miss to lower revenues and higher COGS. Eagle previously announced that it plans to initiate another pivotal trial of Ryanodex in exertional heat stroke (EHS) at the Hajj pilgrimage in August. We view this initiative as largely unproductive because identifying appropriate patients and trial execution could prove challenging yet again. However, enrollment in the fulvestrant trial was faster than expected (data could be a catalyst in the coming months) and Eagle has advanced one of its ANDA filings, which are slight positives to the story. In the past week we saw announcements that two senior executives (Chief Scientific Officer and General Counsel) have left Eagle, which we believe bodes poorly for the future outlook of the company. We reiterate our Underperform rating on the stock and will update thoughts after the call. We summarize 4Q:17 performance below.”,” the firm’s analyst commented.
Several other analysts also recently issued reports on the company. BidaskClub upgraded Eagle Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, February 8th. ValuEngine downgraded Eagle Pharmaceuticals from a buy rating to a hold rating in a report on Friday, February 2nd. Piper Jaffray Companies restated a buy rating and set a $79.00 price objective on shares of Eagle Pharmaceuticals in a report on Tuesday, January 30th. Zacks Investment Research downgraded Eagle Pharmaceuticals from a strong-buy rating to a hold rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $75.00 target price (down previously from $81.00) on shares of Eagle Pharmaceuticals in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Eagle Pharmaceuticals has an average rating of Hold and an average target price of $62.33.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings data on Monday, February 26th. The specialty pharmaceutical company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.16). The company had revenue of $46.80 million for the quarter, compared to analyst estimates of $53.65 million. Eagle Pharmaceuticals had a return on equity of 34.16% and a net margin of 21.94%. Eagle Pharmaceuticals’s quarterly revenue was down 42.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.52 EPS. equities analysts expect that Eagle Pharmaceuticals will post 3.94 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its stake in Eagle Pharmaceuticals by 19.1% during the 2nd quarter. Voya Investment Management LLC now owns 4,204 shares of the specialty pharmaceutical company’s stock valued at $332,000 after acquiring an additional 675 shares in the last quarter. Rhumbline Advisers grew its stake in Eagle Pharmaceuticals by 6.8% during the 3rd quarter. Rhumbline Advisers now owns 17,076 shares of the specialty pharmaceutical company’s stock valued at $1,018,000 after acquiring an additional 1,080 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA grew its stake in Eagle Pharmaceuticals by 24.1% during the 3rd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 5,790 shares of the specialty pharmaceutical company’s stock valued at $345,000 after acquiring an additional 1,125 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Eagle Pharmaceuticals by 68.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,210 shares of the specialty pharmaceutical company’s stock valued at $191,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Eagle Pharmaceuticals by 9.5% during the 3rd quarter. Legal & General Group Plc now owns 16,403 shares of the specialty pharmaceutical company’s stock valued at $978,000 after acquiring an additional 1,419 shares in the last quarter.
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About Eagle Pharmaceuticals
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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.
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