In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Hold rating on Eagle Pharmaceuticals Inc (EGRX), with a price target of $58. The company’s shares opened today at $47.51.
Folkes commented:
“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 3-star analyst with an average return of 1.7% and a 42.6% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Collegium Pharmaceutical, and ANI Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eagle Pharmaceuticals Inc with a $55 average price target.
See today’s analyst top recommended stocks >>
Based on Eagle Pharmaceuticals Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $12.59 million. In comparison, last year the company had a net profit of $2.62 million.
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.
