Egalet Corp (NASDAQ:EGLT) shares fell 5.2% on Thursday . The stock traded as low as $0.88 and last traded at $0.91. 2,051,703 shares were traded during mid-day trading, an increase of 50% from the average session volume of 1,372,342 shares. The stock had previously closed at $0.96.
Several research firms recently weighed in on EGLT. Stifel Nicolaus cut shares of Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective for the company. in a research report on Wednesday, January 3rd. Gabelli cut shares of Egalet from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Cantor Fitzgerald set a $7.00 price objective on shares of Egalet and gave the stock a “buy” rating in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.20.
The company has a quick ratio of 2.68, a current ratio of 2.73 and a debt-to-equity ratio of -3.43. The firm has a market cap of $39.16, a PE ratio of -0.27 and a beta of 0.44.
Egalet (NASDAQ:EGLT) last posted its quarterly earnings data on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.01. research analysts anticipate that Egalet Corp will post -2.81 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NJ State Employees Deferred Compensation Plan acquired a new stake in Egalet during the 3rd quarter worth $435,000. Goldman Sachs Group Inc. grew its holdings in Egalet by 515.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock worth $293,000 after acquiring an additional 103,402 shares during the period. HighTower Advisors LLC grew its holdings in Egalet by 0.9% during the 2nd quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock worth $636,000 after acquiring an additional 2,408 shares during the period. GMT Capital Corp acquired a new stake in Egalet during the 2nd quarter worth $1,281,000. Finally, Virtu KCG Holdings LLC grew its holdings in Egalet by 87.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after acquiring an additional 37,155 shares during the period. 50.63% of the stock is owned by hedge funds and other institutional investors.
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Egalet 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.
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