First Eagle Investment Management LLC purchased a new position in Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 568,205 shares of the specialty pharmaceutical company’s stock, valued at approximately $39,774,000. First Eagle Investment Management LLC owned 3.63% of Eagle Pharmaceuticals as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth approximately $222,000. Louisiana State Employees Retirement System acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth approximately $245,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth approximately $245,000. Arizona State Retirement System acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth approximately $287,000. Finally, White Pine Capital LLC acquired a new stake in shares of Eagle Pharmaceuticals during the second quarter worth approximately $208,000.
Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) opened at 79.66 on Monday. The stock’s 50 day moving average price is $70.29 and its 200 day moving average price is $56.41. Eagle Pharmaceuticals Inc. has a one year low of $33.02 and a one year high of $102.48. The company has a market capitalization of $1.23 billion, a P/E ratio of 51.86 and a beta of 1.37.
Eagle Pharmaceuticals (NASDAQ:EGRX) last released its earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.12. The firm had revenue of $37.80 million for the quarter, compared to the consensus estimate of $41.04 million. Eagle Pharmaceuticals had a return on equity of 25.63% and a net margin of 20.06%. The company’s revenue for the quarter was up 563.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.65) EPS. Equities analysts anticipate that Eagle Pharmaceuticals Inc. will post $4.59 EPS for the current fiscal year.
A number of equities analysts have issued reports on EGRX shares. Piper Jaffray Cos. reiterated a “buy” rating and issued a $91.00 price objective on shares of Eagle Pharmaceuticals in a report on Saturday, October 15th. Zacks Investment Research upgraded Eagle Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, November 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $93.00 price objective on shares of Eagle Pharmaceuticals in a report on Monday, November 14th. Mizuho decreased their price objective on Eagle Pharmaceuticals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Finally, TheStreet upgraded Eagle Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $90.24.
In other news, major shareholder Proquest Investments Iv, L.P. sold 34,486 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $85.15, for a total transaction of $2,936,482.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.80% of the company’s stock.
About Eagle Pharmaceuticals