Eagle Pharmaceuticals (NASDAQ:EGRX) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a buy rating to a hold rating in a report published on Saturday, ValuEngine reports.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Eagle Pharmaceuticals from a hold rating to a strong sell rating in a report on Thursday. BidaskClub upgraded shares of Eagle Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, October 8th. TheStreet upgraded shares of Eagle Pharmaceuticals from a c+ rating to a b- rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada restated a buy rating and issued a $66.00 price objective on shares of Eagle Pharmaceuticals in a research note on Sunday, August 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $59.00.

Shares of EGRX stock traded down $0.80 during trading hours on Friday, reaching $61.71. 79,117 shares of the stock traded hands, compared to its average volume of 170,271. Eagle Pharmaceuticals has a 1-year low of $36.03 and a 1-year high of $62.98. The business has a fifty day moving average price of $57.84 and a 200 day moving average price of $54.67. The company has a quick ratio of 3.36, a current ratio of 3.59 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $854.32 million, a PE ratio of 29.53 and a beta of 1.41.

Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.17. The business had revenue of $56.70 million for the quarter, compared to analyst estimates of $53.61 million. Eagle Pharmaceuticals had a net margin of 19.79% and a return on equity of 24.10%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. Research analysts expect that Eagle Pharmaceuticals will post 2.04 earnings per share for the current fiscal year.

In related news, Director Hudson Executive Capital Lp sold 1,112 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $60.06, for a total transaction of $66,786.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 31,693 shares of company stock valued at $1,949,432 in the last quarter. 31.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Eagle Pharmaceuticals by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,743,694 shares of the specialty pharmaceutical company’s stock worth $97,089,000 after acquiring an additional 83,722 shares during the last quarter. Park West Asset Management LLC grew its holdings in Eagle Pharmaceuticals by 24.4% during the 2nd quarter. Park West Asset Management LLC now owns 1,300,000 shares of the specialty pharmaceutical company’s stock worth $72,384,000 after acquiring an additional 254,689 shares during the last quarter. LSV Asset Management grew its holdings in Eagle Pharmaceuticals by 61.7% during the 2nd quarter. LSV Asset Management now owns 404,369 shares of the specialty pharmaceutical company’s stock worth $22,515,000 after acquiring an additional 154,365 shares during the last quarter. Invesco Ltd. grew its holdings in Eagle Pharmaceuticals by 50.4% during the 2nd quarter. Invesco Ltd. now owns 402,792 shares of the specialty pharmaceutical company’s stock worth $22,427,000 after acquiring an additional 134,931 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its holdings in Eagle Pharmaceuticals by 0.6% during the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 154,654 shares of the specialty pharmaceutical company’s stock worth $8,749,000 after acquiring an additional 980 shares during the last quarter. 97.51% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Pharmaceuticals Company Profile

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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