Zacks Investment Research Lowers Eagle Pharmaceuticals (NASDAQ:EGRX) to Hold


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Eagle Pharmaceuticals (NASDAQ:EGRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Eagle Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The Company markets EP-1101 to treat heparin-induced thrombocytopenia. It develops EP-3101, EP-3102, Ryanodex and EP-4104. Eagle Pharmaceuticals, Inc. is based in Woodcliff Lake, New Jersey. “

Shares of EGRX traded down $0.82 during mid-day trading on Tuesday, reaching $41.15. 68,006 shares of the company’s stock traded hands, compared to its average volume of 118,757. The stock’s 50-day moving average is $42.64 and its two-hundred day moving average is $46.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.60 and a quick ratio of 3.45. The stock has a market cap of $543.88 million, a P/E ratio of 117.57 and a beta of 0.74. Eagle Pharmaceuticals has a 12 month low of $36.48 and a 12 month high of $56.16.

Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings data on Monday, March 1st. The specialty pharmaceutical company reported $0.96 EPS for the quarter, beating the consensus estimate of ($1.42) by $2.38. The firm had revenue of $49.92 million during the quarter, compared to analyst estimates of $50.08 million. Eagle Pharmaceuticals had a return on equity of 8.50% and a net margin of 2.65%. Research analysts predict that Eagle Pharmaceuticals will post -1.07 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Eagle Pharmaceuticals by 1,144.3% in the first quarter. Pacer Advisors Inc. now owns 12,642 shares of the specialty pharmaceutical company’s stock valued at $528,000 after buying an additional 11,626 shares during the last quarter. BlackRock Inc. increased its stake in shares of Eagle Pharmaceuticals by 1.8% during the fourth quarter. BlackRock Inc. now owns 1,941,016 shares of the specialty pharmaceutical company’s stock worth $90,393,000 after acquiring an additional 33,415 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Eagle Pharmaceuticals by 18.3% during the fourth quarter. Nuveen Asset Management LLC now owns 58,781 shares of the specialty pharmaceutical company’s stock worth $2,737,000 after acquiring an additional 9,100 shares during the period. ProShare Advisors LLC acquired a new position in shares of Eagle Pharmaceuticals during the fourth quarter worth about $211,000. Finally, Kestra Advisory Services LLC increased its stake in shares of Eagle Pharmaceuticals by 7,047.6% during the fourth quarter. Kestra Advisory Services LLC now owns 7,505 shares of the specialty pharmaceutical company’s stock worth $349,000 after acquiring an additional 7,400 shares during the period. 95.12% of the stock is owned by institutional investors and hedge funds.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc, a biotechnology pharmaceutical company, focuses on developing and commercializing injectable products primarily in the metabolic critical care and oncology areas in the United States. The company offers Ryanodex for malignant hyperthermia; and Belrapzo and Bendeka for chronic lymphocytic leukemia and indolent B-cell non-Hodgkin's lymphoma.

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