In a report released today, Irina Rivkind Koffler from Mizuho Securities assigned a Sell rating to Eagle Pharmaceuticals (NASDAQ: EGRX), with a price target of $54. The company’s shares opened today at $66.94.
Rivkind Koffler observed:
“We had estimated ODE status representing ~$16/share of value for Eagle, and our model already includes a 65% risk-adjusted probability (or $11/share in value) for this outcome, so ODE could add ~$5/share to our model. If Bendeka ODE is denied, Treanda powder generics would be expected to enter the market in 2019, with ~$11/share in risk-adjusted value at risk. In addition, we would assume “big bag” market penetration could get halted in 2019 if the product is not protected by its own j-code, which represents further downside risk to our current estimates that grow big bag to 10% of the market. There are other moving parts to consider, such as the magnitude of incremental Bendeka deterioration in 2022, after generic entry, and Eagle’s “big bag” pricing strategy, that could change our impact estimates (pricing not yet posted).”
According to TipRanks.com, Koffler is a 5-star analyst with an average return of 13.2% and a 49.7% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Adamas Pharmaceuticals, and Jazz Pharmaceuticals.
Eagle Pharmaceuticals has an analyst consensus of Moderate Sell, with a price target consensus of $54.
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Based on Eagle Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $2.62 million. In comparison, last year the company had a net profit of $22.92 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Sander Flaum, a Director at EGRX sold 2,340 shares for a total of $126,220.
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Eagle Pharmaceuticals, Inc. is a pharmaceutical company, which engages in the provision of injectable products. Its activities include development and commercialization of pharmaceutical products for the treatment of areas such as critical care, orphan diseases, and oncology.
