Egalet (NASDAQ:EGLT) has been assigned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $4.13.
Separately, Cantor Fitzgerald downgraded shares of Egalet from an “overweight” rating to a “hold” rating and set a $2.00 price objective for the company. in a research note on Tuesday, May 8th.
An institutional investor recently raised its position in Egalet stock. Renaissance Technologies LLC grew its holdings in shares of Egalet (NASDAQ:EGLT) by 1,540.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 721,800 shares of the specialty pharmaceutical company’s stock after buying an additional 677,800 shares during the quarter. Renaissance Technologies LLC owned 1.57% of Egalet worth $722,000 at the end of the most recent quarter. 31.24% of the stock is owned by institutional investors and hedge funds.
EGLT opened at $0.51 on Monday. The company has a quick ratio of 2.30, a current ratio of 2.29 and a debt-to-equity ratio of -3.00. Egalet has a 52-week low of $0.47 and a 52-week high of $3.47. The company has a market cap of $27.18 million, a price-to-earnings ratio of -0.21 and a beta of 0.68.
Egalet (NASDAQ:EGLT) last released its quarterly earnings data on Tuesday, May 8th. The specialty pharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. The business had revenue of $6.26 million for the quarter, compared to analysts’ expectations of $8.10 million. research analysts predict that Egalet will post -0.96 earnings per share for the current fiscal year.
Egalet Company Profile
Egalet Corporation, a specialty pharmaceutical company, develops, manufactures, and commercializes treatments for patients with pain and other conditions. It has licensed three approved pain products, such as SPRIX Nasal Spray, a non-steroidal anti-inflammatory drug indicated in adult patients for the short-term management of moderate to moderately severe pain that requires analgesia at the opioid level; OXAYDO, an immediate-release oxycodone product designed to discourage abuse via snorting for the management of acute and chronic pain severe enough to require an opioid analgesic, and for which alternative treatments are inadequate; and ARYMO ER, an extended-release (ER) morphine product formulated with abuse-deterrent (AD) properties for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.
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