Teachers Retirement System of The State of Kentucky increased its stake in Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) by 48.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,700 shares of the specialty pharmaceutical company’s stock after buying an additional 1,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Eagle Pharmaceuticals were worth $307,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Eagle Pharmaceuticals by 15.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,548 shares of the specialty pharmaceutical company’s stock valued at $128,000 after buying an additional 202 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Eagle Pharmaceuticals by 10.2% in the first quarter. Mason Street Advisors LLC now owns 1,895 shares of the specialty pharmaceutical company’s stock valued at $157,000 after buying an additional 175 shares during the period. Campbell Newman Asset Management Inc. acquired a new position in shares of Eagle Pharmaceuticals during the first quarter valued at $213,000. Jane Street Group LLC acquired a new position in shares of Eagle Pharmaceuticals during the first quarter valued at $220,000. Finally, Louisiana State Employees Retirement System increased its position in shares of Eagle Pharmaceuticals by 3.1% in the first quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the specialty pharmaceutical company’s stock valued at $274,000 after buying an additional 100 shares during the period.
Shares of Eagle Pharmaceuticals, Inc. (EGRX) opened at 54.16 on Friday. The stock has a market capitalization of $821.55 million, a PE ratio of 9.09 and a beta of 1.31. Eagle Pharmaceuticals, Inc. has a 52 week low of $45.05 and a 52 week high of $97.15. The stock’s 50 day moving average is $63.74 and its 200 day moving average is $75.63.
Eagle Pharmaceuticals (NASDAQ:EGRX) last posted its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.18. Eagle Pharmaceuticals had a net margin of 39.32% and a return on equity of 66.30%. The firm had revenue of $50.10 million during the quarter, compared to analyst estimates of $52.52 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. Analysts anticipate that Eagle Pharmaceuticals, Inc. will post $3.61 EPS for the current fiscal year.
Eagle Pharmaceuticals declared that its board has approved a share repurchase program on Wednesday, August 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty pharmaceutical company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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Several brokerages have weighed in on EGRX. Piper Jaffray Companies set a $118.00 price target on Eagle Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, July 25th. BidaskClub cut shares of Eagle Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $94.00 price objective on shares of Eagle Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research cut shares of Eagle Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Mizuho lowered their price objective on shares of Eagle Pharmaceuticals from $57.00 to $40.00 and set an “underperform” rating for the company in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $75.40.
In related news, Director Douglas L. Braunstein purchased 20,400 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $49.07 per share, for a total transaction of $1,001,028.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Pete A. Meyers purchased 350 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was bought at an average price of $71.49 per share, for a total transaction of $25,021.50. Following the completion of the transaction, the chief financial officer now directly owns 350 shares in the company, valued at $25,021.50. The disclosure for this purchase can be found here. Insiders purchased a total of 21,100 shares of company stock worth $1,045,457 over the last quarter. 19.50% of the stock is currently owned by company insiders.
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 products, including Argatroban; Ryanodex; docetaxel injection, non-alcohol formulation; and Bendeka.
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