Todays Report: Today, Egalet Corp. (EGLT) Earns “Buy” Rating from Cantor Fitzgerald

Today, Egalet Corp. (EGLT) Earns “Buy” Rating from Cantor Fitzgerald

Egalet Corp. (NASDAQ:EGLT)‘s stock had its “buy” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued on Tuesday. They presently have a $21.00 target price on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 181.69% from the stock’s previous close.

Several other brokerages have also issued reports on EGLT. Zacks Investment Research lowered Egalet Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Gabelli started coverage on Egalet Corp. in a research report on Tuesday, September 13th. They set a “buy” rating and a $9.50 target price for the company.

Shares of Egalet Corp. (NASDAQ:EGLT) opened at 7.455 on Tuesday. Egalet Corp. has a one year low of $4.34 and a one year high of $11.81. The stock has a 50 day moving average price of $6.96 and a 200-day moving average price of $6.63. The company’s market capitalization is $183.50 million.

Egalet Corp. (NASDAQ:EGLT) last announced its quarterly earnings results on Friday, November 4th. The specialty pharmaceutical company reported ($1.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.90) by $0.20. Egalet Corp. had a negative net margin of 251.79% and a negative return on equity of 127.84%. The firm earned $4.70 million during the quarter, compared to the consensus estimate of $4.50 million. The company’s revenue for the quarter was up 176.5% on a year-over-year basis. On average, equities research analysts expect that Egalet Corp. will post ($3.77) EPS for the current year.

In related news, CFO Stan Musial sold 13,480 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $7.47, for a total transaction of $100,695.60. Following the completion of the transaction, the chief financial officer now directly owns 67,980 shares of the company’s stock, valued at approximately $507,810.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mark Strobeck sold 33,700 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $7.58, for a total value of $255,446.00. Following the transaction, the chief operating officer now directly owns 71,880 shares of the company’s stock, valued at $544,850.40. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in EGLT. Omega Fund Management LLC increased its stake in shares of Egalet Corp. by 2.7% in the second quarter. Omega Fund Management LLC now owns 2,889,926 shares of the specialty pharmaceutical company’s stock worth $14,334,000 after buying an additional 74,998 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Egalet Corp. by 5.5% in the third quarter. BlackRock Fund Advisors now owns 949,085 shares of the specialty pharmaceutical company’s stock worth $7,223,000 after buying an additional 49,614 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Egalet Corp. by 7.7% in the third quarter. Wasatch Advisors Inc. now owns 892,193 shares of the specialty pharmaceutical company’s stock worth $6,790,000 after buying an additional 63,550 shares during the last quarter. Deerfield Management Co. increased its stake in shares of Egalet Corp. by 25.2% in the first quarter. Deerfield Management Co. now owns 597,123 shares of the specialty pharmaceutical company’s stock worth $4,096,000 after buying an additional 120,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Egalet Corp. by 12.0% in the second quarter. Vanguard Group Inc. now owns 461,128 shares of the specialty pharmaceutical company’s stock worth $2,287,000 after buying an additional 49,577 shares during the last quarter. 71.85% of the stock is owned by institutional investors and hedge funds.

Egalet Corp. Company Profile

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