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 on Tuesday.

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 brokerages have also weighed in on EGRX. BidaskClub upgraded Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded Eagle Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price objective (down from $81.00) on shares of Eagle Pharmaceuticals in a research report on Thursday, November 9th. Piper Jaffray Companies reiterated a “buy” rating and issued a $75.00 price objective on shares of Eagle Pharmaceuticals in a research report on Friday, October 27th. Finally, Mizuho reiterated a “sell” rating and issued a $37.00 price objective on shares of Eagle Pharmaceuticals in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Eagle Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $62.33.

Shares of Eagle Pharmaceuticals (NASDAQ:EGRX) traded up $0.49 during trading on Tuesday, reaching $58.84. The company had a trading volume of 154,253 shares, compared to its average volume of 200,550. The stock has a market capitalization of $870.68, a price-to-earnings ratio of 9.48 and a beta of 1.24. Eagle Pharmaceuticals has a 52 week low of $45.05 and a 52 week high of $97.15. The company has a quick ratio of 5.15, a current ratio of 5.30 and a debt-to-equity ratio of 0.26.

A number of large investors have recently added to or reduced their stakes in EGRX. Municipal Employees Retirement System of Michigan lifted its stake in Eagle Pharmaceuticals by 68.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,210 shares of the specialty pharmaceutical company’s stock worth $191,000 after purchasing an additional 1,300 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Eagle Pharmaceuticals by 58.7% during the second quarter. BNP Paribas Arbitrage SA now owns 2,456 shares of the specialty pharmaceutical company’s stock worth $194,000 after purchasing an additional 908 shares in the last quarter. Schroder Investment Management Group acquired a new position in Eagle Pharmaceuticals during the third quarter worth $219,000. Foundry Partners LLC acquired a new position in Eagle Pharmaceuticals during the third quarter worth $224,000. Finally, Kopp Investment Advisors LLC lifted its stake in Eagle Pharmaceuticals by 0.3% during the second quarter. Kopp Investment Advisors LLC now owns 3,060 shares of the specialty pharmaceutical company’s stock worth $241,000 after purchasing an additional 10 shares in the last quarter.

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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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