Ameriprise Financial Inc. acquired a new stake in shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) during the third quarter, according to its most recent filing with the SEC. The fund acquired 108,963 shares of the specialty pharmaceutical company’s stock, valued at approximately $7,628,000. Ameriprise Financial Inc. owned approximately 0.70% of Eagle Pharmaceuticals as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of EGRX. BlackRock Fund Advisors raised its stake in shares of Eagle Pharmaceuticals by 87.0% in the third quarter. BlackRock Fund Advisors now owns 769,869 shares of the specialty pharmaceutical company’s stock worth $53,891,000 after buying an additional 358,134 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $48,318,000. Essex Investment Management Co. LLC acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth about $1,016,000. Bank of New York Mellon Corp raised 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 period. Finally, PNC Financial Services Group Inc. raised 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 period.
Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) traded up 1.06% during trading on Friday, reaching $66.75. The company had a trading volume of 182,045 shares. Eagle Pharmaceuticals, Inc. has a 52-week low of $33.02 and a 52-week high of $87.78. The company has a market capitalization of $1.03 billion, a P/E ratio of 43.46 and a beta of 1.62. The firm has a 50-day moving average price of $72.97 and a 200-day moving average price of $65.66.
Eagle Pharmaceuticals (NASDAQ:EGRX) last issued its quarterly earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported $0.73 earnings per share (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 analyst estimates of $41.04 million. During the same period last year, the company earned ($0.65) EPS. The firm’s quarterly revenue was up 563.2% on a year-over-year basis. On average, analysts predict that Eagle Pharmaceuticals, Inc. will post $4.13 EPS for the current fiscal year.
A number of brokerages have issued reports on EGRX. RBC Capital Markets reiterated an “outperform” rating and set a $93.00 price target on shares of Eagle Pharmaceuticals in a research note on Monday, November 14th. Mizuho lowered shares of Eagle Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Wednesday, November 16th. Zacks Investment Research lowered shares of Eagle Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, January 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Eagle Pharmaceuticals from $80.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.83.
In other news, major shareholder Proquest Investments Iv, L.P. sold 153,830 shares of Eagle Pharmaceuticals stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $79.29, for a total value of $12,197,180.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven B. Ratoff sold 10,000 shares of Eagle Pharmaceuticals stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $75.01, for a total value of $750,100.00. Following the completion of the transaction, the director now directly owns 23,324 shares in the company, valued at $1,749,533.24. 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. 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).
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