Prudential Financial Inc. purchased a new position in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) during the third quarter, Holdings Channel reports. The institutional investor purchased 14,640 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,025,000. Prudential Financial Inc. owned about 0.09% of Eagle Pharmaceuticals at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of EGRX. Victory Capital Management Inc. acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth approximately $48,318,000. PNC Financial Services Group Inc. increased its stake in shares of Eagle Pharmaceuticals by 226.0% in the third quarter. PNC Financial Services Group Inc. now owns 41,002 shares of the specialty pharmaceutical company’s stock worth $2,871,000 after buying an additional 28,424 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Eagle Pharmaceuticals by 124.5% in the third quarter. Bank of New York Mellon Corp now owns 93,265 shares of the specialty pharmaceutical company’s stock worth $6,529,000 after buying an additional 51,725 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth approximately $5,769,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Eagle Pharmaceuticals during the second quarter worth approximately $852,000.
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) traded down 2.75% during trading on Wednesday, reaching $64.76. The company’s stock had a trading volume of 92,197 shares. Eagle Pharmaceuticals, Inc. has a one year low of $33.02 and a one year high of $87.78. The company has a market capitalization of $999.57 million, a price-to-earnings ratio of 42.16 and a beta of 1.62. The firm’s 50-day moving average price is $74.02 and its 200-day moving average price is $65.50.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Eagle Pharmaceuticals had a return on equity of 25.63% and a net margin of 20.06%. The firm had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $41.04 million. During the same period in the previous year, the firm posted ($0.65) EPS. The business’s revenue for the quarter was up 563.2% compared to the same quarter last year. On average, equities analysts anticipate that Eagle Pharmaceuticals, Inc. will post $4.13 earnings per share for the current year.
EGRX has been the subject of a number of research analyst reports. Zacks Investment Research raised Eagle Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Friday, November 4th. Mizuho downgraded Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Wednesday, November 16th. RBC Capital Markets reaffirmed an “outperform” rating and set a $86.00 price target (down from $93.00) on shares of Eagle Pharmaceuticals in a research report on Monday, January 9th. Royal Bank Of Canada increased their price target on Eagle Pharmaceuticals from $80.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Finally, William Blair increased their price target on Eagle Pharmaceuticals from $83.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $85.83.
In other news, Director Steven B. Ratoff sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $75.01, for a total value of $750,100.00. Following the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $1,749,533.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Proquest Investments Iv, L.P. sold 153,830 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $79.29, for a total value of $12,197,180.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 519,230 shares of company stock worth $39,655,969. Insiders own 18.80% of the company’s stock.
Eagle Pharmaceuticals Company Profile
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).
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