Eagle Pharmaceuticals (NASDAQ:EGRX) Downgraded to “Hold” at StockNews.com

Eagle Pharmaceuticals (NASDAQ:EGRX – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Piper Sandler dropped their target price on shares of Eagle Pharmaceuticals from $31.00 to $26.00 in a report on Wednesday, May 10th.

Eagle Pharmaceuticals Stock Performance

NASDAQ EGRX opened at $20.36 on Friday. The company has a 50-day simple moving average of $26.73 and a two-hundred day simple moving average of $29.97. The company has a quick ratio of 1.52, a current ratio of 1.97 and a debt-to-equity ratio of 0.28. Eagle Pharmaceuticals has a 12-month low of $18.89 and a 12-month high of $49.00. The firm has a market cap of $266.51 million, a price-to-earnings ratio of 407.28 and a beta of 0.91.

Eagle Pharmaceuticals (NASDAQ:EGRX – Get Rating) last posted its quarterly earnings results on Monday, March 13th. The specialty pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.16. The business had revenue of $60.70 million during the quarter, compared to analyst estimates of $58.99 million. Eagle Pharmaceuticals had a net margin of 0.36% and a return on equity of 0.40%. On average, equities analysts forecast that Eagle Pharmaceuticals will post 1.29 EPS for the current year.

Insider Transactions at Eagle Pharmaceuticals

In related news, CEO Scott Tarriff sold 15,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.07, for a total value of $316,050.00. Following the completion of the transaction, the chief executive officer now directly owns 1,594,934 shares of the company’s stock, valued at $33,605,259.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 28.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eagle Pharmaceuticals

A number of institutional investors have recently bought and sold shares of EGRX. Point72 Hong Kong Ltd bought a new position in Eagle Pharmaceuticals in the second quarter worth about $34,000. Quantbot Technologies LP bought a new position in Eagle Pharmaceuticals in the third quarter worth about $44,000. Signaturefd LLC raised its stake in Eagle Pharmaceuticals by 197.3% in the first quarter. Signaturefd LLC now owns 1,561 shares of the specialty pharmaceutical company’s stock worth $44,000 after buying an additional 1,036 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Eagle Pharmaceuticals during the first quarter valued at approximately $48,000. Finally, Point72 Middle East FZE bought a new position in shares of Eagle Pharmaceuticals during the fourth quarter valued at approximately $53,000. 88.09% of the stock is owned by institutional investors.

About Eagle Pharmaceuticals

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Eagle Pharmaceuticals, Inc is a biotechnology pharmaceutical company, which focuses on developing and commercializing injectable products primarily in the metabolic critical care and oncology areas in the United States. Its products include RYANODEX, BENDEKA and BELRAPZO. The company was founded by Scott L.