Eagle Pharmaceuticals (EGRX) Downgraded to “Hold” at Zacks Investment Research

Eagle Pharmaceuticals (NASDAQ:EGRX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 9th.

According to Zacks, “Eagle Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing injectable products primarily in the critical care and oncology areas in the United States. The Company markets EP-1101 to treat heparin-induced thrombocytopenia. It develops EP-3101, EP-3102, Ryanodex and EP-4104. Eagle Pharmaceuticals, Inc. is based in Woodcliff Lake, New Jersey. “

Several other research analysts also recently commented on the company. ValuEngine raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho reissued a “sell” rating and issued a $37.00 price objective on shares of Eagle Pharmaceuticals in a research note on Wednesday, November 8th. BidaskClub raised Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 target price (down from $81.00) on shares of Eagle Pharmaceuticals in a research note on Thursday, November 9th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $75.00 target price on shares of Eagle Pharmaceuticals in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Eagle Pharmaceuticals currently has an average rating of “Hold” and an average price target of $62.33.

Eagle Pharmaceuticals (NASDAQ:EGRX) traded down $0.08 during trading on Tuesday, reaching $58.84. The company’s stock had a trading volume of 111,488 shares, compared to its average volume of 166,918. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.26. Eagle Pharmaceuticals has a 1-year low of $45.05 and a 1-year high of $97.15. The stock has a market cap of $879.18, a price-to-earnings ratio of 9.49 and a beta of 1.24.

Eagle Pharmaceuticals (NASDAQ:EGRX) last announced its earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.50. Eagle Pharmaceuticals had a return on equity of 62.60% and a net margin of 36.95%. sell-side analysts forecast that Eagle Pharmaceuticals will post 2.23 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Argent Capital Management LLC acquired a new stake in shares of Eagle Pharmaceuticals during the 2nd quarter worth about $686,000. Advisory Services Network LLC boosted its holdings in Eagle Pharmaceuticals by 52.8% during the 2nd quarter. Advisory Services Network LLC now owns 12,225 shares of the specialty pharmaceutical company’s stock valued at $964,000 after acquiring an additional 4,225 shares during the period. U S Global Investors Inc. purchased a new position in Eagle Pharmaceuticals during the 2nd quarter valued at about $1,097,000. Ameriprise Financial Inc. boosted its holdings in Eagle Pharmaceuticals by 4.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 138,619 shares of the specialty pharmaceutical company’s stock valued at $8,267,000 after acquiring an additional 5,548 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Eagle Pharmaceuticals by 22.7% during the 2nd quarter. Vanguard Group Inc. now owns 561,820 shares of the specialty pharmaceutical company’s stock valued at $44,322,000 after acquiring an additional 103,760 shares during the period.

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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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.

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