Egalet Corporation (EGLT) Given a $7.00 Price Target by Cantor Fitzgerald Analysts

Cantor Fitzgerald set a $7.00 price target on Egalet Corporation (NASDAQ:EGLT) in a report released on Thursday. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Gabelli cut Egalet Corporation from a buy rating to a hold rating in a research note on Thursday, November 9th. Stifel Nicolaus reaffirmed a buy rating and set a $6.00 target price (down previously from $14.00) on shares of Egalet Corporation in a research note on Thursday, August 10th. Finally, Guggenheim set a $7.00 target price on Egalet Corporation and gave the stock a buy rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $7.10.

Shares of Egalet Corporation (EGLT) traded down $0.15 on Thursday, hitting $1.00. The stock had a trading volume of 9,930,480 shares, compared to its average volume of 681,201. Egalet Corporation has a 52 week low of $0.80 and a 52 week high of $10.00. The company has a quick ratio of 2.68, a current ratio of 2.73 and a debt-to-equity ratio of -3.43.

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Institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its holdings in shares of Egalet Corporation by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock valued at $109,000 after purchasing an additional 500 shares in the last quarter. LMR Partners LLP bought a new position in shares of Egalet Corporation in the second quarter valued at approximately $179,000. Virtu KCG Holdings LLC lifted its holdings in shares of Egalet Corporation by 87.0% in the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 37,155 shares in the last quarter. KCG Holdings Inc. lifted its holdings in Egalet Corporation by 81.0% during the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock worth $218,000 after acquiring an additional 19,116 shares during the period. Finally, New Jersey Better Educational Savings Trust lifted its holdings in Egalet Corporation by 4.0% during the second quarter. New Jersey Better Educational Savings Trust now owns 104,000 shares of the specialty pharmaceutical company’s stock worth $246,000 after acquiring an additional 4,000 shares during the period. 33.39% of the stock is owned by hedge funds and other institutional investors.

Egalet Corporation Company Profile

Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.

Analyst Recommendations for Egalet Corporation (NASDAQ:EGLT)

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