Cantor Fitzgerald Sticks to Its Hold Rating for Eagle Pharmaceuticals Inc (EGRX)


Cantor Fitzgerald analyst Brandon Folkes maintained a Hold rating on Eagle Pharmaceuticals Inc (EGRX) today and set a price target of $58. The company’s shares opened today at $52.67.

Folkes wrote:

“Eagle has carved out a leading position in the specialty pharma market via its 505(b) (2) strategy. We expect earnings revisions and pipeline readouts to drive EGRX stock going forward. We believe the risk-reward of such items are adequately reflected in the current stock price. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $58.”

According to TipRanks.com, Folkes is a 2-star analyst with an average return of 0.9% and a 37.9% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Collegium Pharmaceutical, and ANI Pharmaceuticals Inc.

Currently, the analyst consensus on Eagle Pharmaceuticals Inc is a Moderate Buy with an average price target of $58, a 10.1% upside from current levels. In a report issued on April 23, Mizuho Securities also maintained a Hold rating on the stock with a $50 price target.

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Eagle Pharmaceuticals Inc’s market cap is currently $733.5M and has a P/E ratio of 25.07. The company has a Price to Book ratio of 4.56.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EGRX in relation to earlier this year. Last month, Steven Ratoff, a Director at EGRX bought 2,340 shares for a total of $9,454.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Eagle Pharmaceuticals, Inc. engages in the provision of injectable products. Its products include argatroban, ryanodex, docetaxel injection, non-alcohol formulation and bendeka. The company was founded by Scott L. Tarriff on January 2, 2007 and is headquartered in Woodcliff Lake, NJ.

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