Eagle Pharmaceuticals (NASDAQ:EGRX) Given Buy Rating at Royal Bank of Canada

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Royal Bank of Canada restated their buy rating on shares of Eagle Pharmaceuticals (NASDAQ:EGRX) in a report published on Sunday, AnalystRatings.com reports. They currently have a $66.00 price target on the specialty pharmaceutical company’s stock.

Several other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated a hold rating and set a $58.00 price target on shares of Eagle Pharmaceuticals in a report on Tuesday, May 7th. ValuEngine upgraded shares of Eagle Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, April 23rd. Mizuho reiterated a hold rating and set a $50.00 price target on shares of Eagle Pharmaceuticals in a report on Wednesday, April 24th. Finally, BidaskClub upgraded shares of Eagle Pharmaceuticals from a hold rating to a buy rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $58.20.

NASDAQ EGRX opened at $57.71 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.59 and a debt-to-equity ratio of 0.21. Eagle Pharmaceuticals has a 52 week low of $36.03 and a 52 week high of $82.33. The firm has a market cap of $793.84 million, a PE ratio of 27.61 and a beta of 1.44. The business’s 50 day moving average price is $55.30.

Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.31 by $0.17. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. The company had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter in the previous year, the business posted $0.99 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. Sell-side analysts predict that Eagle Pharmaceuticals will post 1.75 earnings per share for the current year.

Several large investors have recently modified their holdings of EGRX. PNC Financial Services Group Inc. lifted its position in shares of Eagle Pharmaceuticals by 156.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 642 shares of the specialty pharmaceutical company’s stock worth $32,000 after buying an additional 392 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter worth approximately $33,000. First Quadrant L P CA purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter worth approximately $34,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter worth approximately $39,000. Finally, Bank of Montreal Can lifted its position 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 worth $71,000 after buying an additional 1,019 shares during the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

About Eagle Pharmaceuticals

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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