Eagle Pharmaceuticals (EGRX) Stock Rating Lowered by Zacks Investment Research

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Eagle Pharmaceuticals (NASDAQ:EGRX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research note issued on Tuesday, September 18th.

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. “

Other equities research analysts also recently issued reports about the stock. Mizuho raised shares of Eagle Pharmaceuticals from an “underperform” rating to a “neutral” rating in a research note on Monday, June 11th. BidaskClub downgraded shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Royal Bank of Canada set a $84.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 8th. Piper Jaffray Companies set a $88.00 price target on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, TheStreet upgraded shares of Eagle Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $86.50.

EGRX traded up $0.16 on Tuesday, reaching $60.14. The company had a trading volume of 233,104 shares, compared to its average volume of 235,428. The company has a market capitalization of $1.04 billion, a P/E ratio of 17.85 and a beta of 1.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.22 and a quick ratio of 4.09. Eagle Pharmaceuticals has a 52-week low of $48.84 and a 52-week high of $85.66.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Tuesday, August 7th. The specialty pharmaceutical company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The business had revenue of $59.30 million for the quarter, compared to the consensus estimate of $51.78 million. Eagle Pharmaceuticals had a net margin of 13.81% and a return on equity of 19.71%. On average, equities analysts anticipate that Eagle Pharmaceuticals will post 2.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in Eagle Pharmaceuticals during the second quarter valued at approximately $108,000. Macquarie Group Ltd. grew its holdings in shares of Eagle Pharmaceuticals by 400.0% in the second quarter. Macquarie Group Ltd. now owns 1,500 shares of the specialty pharmaceutical company’s stock worth $113,000 after purchasing an additional 1,200 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Eagle Pharmaceuticals by 232.6% in the second quarter. Meeder Asset Management Inc. now owns 1,866 shares of the specialty pharmaceutical company’s stock worth $141,000 after purchasing an additional 1,305 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Eagle Pharmaceuticals in the second quarter worth approximately $150,000. Finally, California Public Employees Retirement System bought a new position in shares of Eagle Pharmaceuticals in the second quarter worth approximately $208,000.

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 for heparin-induced thrombocytopenia; Ryanodex for malignant hyperthermia; non-alcohol docetaxel injection, a chemotherapeutic agent for breast, non-small cell lung, prostate, head, and neck cancers/gastric adenocarcinoma; and Bendeka for chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin's lymphoma (NHL).

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