Eagle Pharmaceuticals (NASDAQ:EGRX) Lifted to “Buy” at BidaskClub

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Eagle Pharmaceuticals (NASDAQ:EGRX) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

EGRX has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Eagle Pharmaceuticals in a research note on Sunday, August 11th. Zacks Investment Research downgraded shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 17th. TheStreet downgraded shares of Eagle Pharmaceuticals from a “b-” rating to a “c+” rating in a research note on Friday, November 22nd. Finally, ValuEngine lowered Eagle Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Eagle Pharmaceuticals has an average rating of “Hold” and an average price target of $60.25.

EGRX stock opened at $56.90 on Wednesday. Eagle Pharmaceuticals has a one year low of $36.03 and a one year high of $64.94. The firm has a 50-day moving average of $60.13 and a two-hundred day moving average of $56.66. The firm has a market capitalization of $777.82 million, a PE ratio of 27.22 and a beta of 1.40. The company has a current ratio of 4.24, a quick ratio of 4.07 and a debt-to-equity ratio of 0.20.

Eagle Pharmaceuticals (NASDAQ:EGRX) last released its earnings results on Tuesday, November 12th. The specialty pharmaceutical company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.17). Eagle Pharmaceuticals had a return on equity of 16.07% and a net margin of 12.72%. The firm had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $45.44 million. During the same period last year, the business earned $1.18 earnings per share. The business’s revenue was down 19.9% on a year-over-year basis. On average, equities research analysts anticipate that Eagle Pharmaceuticals will post 1.45 earnings per share for the current year.

In other Eagle Pharmaceuticals news, Director Hudson Executive Capital Lp sold 1,112 shares of Eagle Pharmaceuticals stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $60.06, for a total transaction of $66,786.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 51,179 shares of company stock valued at $3,184,071 over the last 90 days. Corporate insiders own 31.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC acquired a new position in shares of Eagle Pharmaceuticals in the third quarter worth $268,000. Louisiana State Employees Retirement System acquired a new stake in Eagle Pharmaceuticals during the second quarter valued at $206,000. Charles Schwab Investment Management Inc. boosted its position in Eagle Pharmaceuticals by 14.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 111,946 shares of the specialty pharmaceutical company’s stock valued at $6,234,000 after purchasing an additional 14,111 shares during the last quarter. Systematic Financial Management LP purchased a new position in Eagle Pharmaceuticals in the second quarter valued at about $931,000. Finally, First Quadrant L P CA purchased a new position in Eagle Pharmaceuticals in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 95.25% 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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