Eagle Pharmaceuticals (NASDAQ:EGRX) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Eagle Pharmaceuticals (NASDAQ:EGRX) from a buy rating to a hold rating in a report published on Monday morning.

Separately, Piper Sandler cut shares of Eagle Pharmaceuticals from a neutral rating to an underweight rating and reduced their price target for the stock from $26.00 to $17.00 in a research report on Wednesday, August 9th.

Eagle Pharmaceuticals Trading Down 2.2 %

Shares of NASDAQ EGRX opened at $8.64 on Monday. The company’s fifty day moving average is $13.91 and its 200-day moving average is $17.82. The stock has a market cap of $112.23 million, a price-to-earnings ratio of 7.32 and a beta of 0.83. Eagle Pharmaceuticals has a twelve month low of $8.32 and a twelve month high of $37.98. The company has a quick ratio of 1.67, a current ratio of 2.16 and a debt-to-equity ratio of 0.25.

Insider Buying and Selling

In related news, CEO Scott Tarriff sold 9,511 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.23, for a total transaction of $144,852.53. Following the sale, the chief executive officer now directly owns 577,800 shares in the company, valued at $8,799,894. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 28.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eagle Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp Et Al acquired a new stake in shares of Eagle Pharmaceuticals during the third quarter worth $455,000. Kennedy Capital Management LLC acquired a new stake in Eagle Pharmaceuticals in the 3rd quarter valued at $575,000. Adage Capital Partners GP L.L.C. increased its stake in Eagle Pharmaceuticals by 25.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the specialty pharmaceutical company’s stock valued at $7,885,000 after buying an additional 100,000 shares during the last quarter. Trexquant Investment LP increased its stake in Eagle Pharmaceuticals by 26.1% in the 3rd quarter. Trexquant Investment LP now owns 67,187 shares of the specialty pharmaceutical company’s stock valued at $1,060,000 after buying an additional 13,910 shares during the last quarter. Finally, Brandes Investment Partners LP increased its stake in Eagle Pharmaceuticals by 34.9% in the 3rd quarter. Brandes Investment Partners LP now owns 1,134,363 shares of the specialty pharmaceutical company’s stock valued at $17,889,000 after buying an additional 293,276 shares during the last quarter. 82.87% of the stock is currently owned by institutional investors and hedge funds.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc, a pharmaceutical company, focuses on developing and commercializing product candidates to treat diseases of the central nervous system or metabolic critical care, and oncology in the United States. The company offers Ryanodex for malignant hyperthermia; and Belrapzo and Bendeka for chronic lymphocytic leukemia and indolent B-cell non-Hodgkin's lymphoma.