Alps Advisors Inc. lowered its stake in shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) by 9.3% during the third quarter, Holdings Channel reports. The firm owned 19,933 shares of the specialty pharmaceutical company’s stock after selling 2,032 shares during the period. Alps Advisors Inc.’s holdings in Eagle Pharmaceuticals were worth $1,395,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. White Pine Capital LLC purchased a new stake in Eagle Pharmaceuticals during the second quarter valued at $208,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Eagle Pharmaceuticals during the third quarter valued at $222,000. Louisiana State Employees Retirement System purchased a new stake in Eagle Pharmaceuticals during the third quarter valued at $245,000. Arizona State Retirement System purchased a new stake in Eagle Pharmaceuticals during the third quarter valued at $287,000. Finally, LaSalle Street Capital Management LLC purchased a new stake in Eagle Pharmaceuticals during the second quarter valued at $304,000.
Shares of Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) traded down 2.74% on Monday, hitting $77.48. The company has a 50 day moving average of $70.68 and a 200-day moving average of $56.92. The firm has a market capitalization of $1.20 billion, a P/E ratio of 50.44 and a beta of 1.37. Eagle Pharmaceuticals Inc. has a 52-week low of $33.02 and a 52-week high of $102.48.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. The firm had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $41.04 million. Eagle Pharmaceuticals had a net margin of 20.06% and a return on equity of 25.63%. The business’s quarterly revenue was up 563.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. On average, equities research analysts predict that Eagle Pharmaceuticals Inc. will post $4.59 EPS for the current fiscal year.
Several research firms recently weighed in on EGRX. TheStreet raised Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Royal Bank Of Canada raised their price objective on Eagle Pharmaceuticals from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. RBC Capital Markets reissued an “outperform” rating and set a $80.00 price objective (up previously from $78.00) on shares of Eagle Pharmaceuticals in a report on Thursday, September 22nd. William Blair raised their price objective on Eagle Pharmaceuticals from $83.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Finally, Mizuho lifted their target price on Eagle Pharmaceuticals from $47.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $90.24.
In related news, major shareholder Proquest Investments Iv, L.P. sold 34,486 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $85.15, for a total value of $2,936,482.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 18.80% of the stock is owned by corporate insiders.
About Eagle Pharmaceuticals
Eagle Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses on developing and commercializing injectable products in the critical care and oncology areas. The Company’s product portfolio includes EP-1101 (argatroban); Ryanodex (dantrolene sodium); docetaxel injection, non-alcohol formulation (Non-Alcohol Docetaxel Injection); diclofenac-misoprostol; EP-3101 (Bendamustine Hydrochloride Injection, ready-to-dilute (RTD) concentrate solution), and EP-3102 (rapidly infused bendamustine RTD) (EP-3102 Bendeka).