Egalet Corp (NASDAQ: EGLT) received a Hold rating and a $1.50 price target from Cantor Fitzgerald analyst Brandon Folkes today. The company’s shares opened today at $0.72, close to its 52-week low of $0.55.
Folkes noted:
“Takeaways from the quarter: 1) Sprix TRxs were 11,800 in the quarter, up ~85% from 1Q17. Payer pressure was a partial offset, resulting in year over year Sprix net revenue growth of ~17%; 2) EGLT increased coverage of its products with a number of unrestricted formulary wins in the quarter and through May 7; 3) EGLT noted it is comfortable with the current revenue consensus estimate and believe it will be able to achieve this. The current FactSet revenue consensus estimate for 2018 is $35.6MM. 4) EGLT plans to address the stock’s Nasdaq listing deficiency through the appeals process; 5) Cash and equivalents totaled $74.9MM at 3/31/18, which we think should fund operations through 2020.”
According to TipRanks.com, Folkes is ranked #4583 out of 4787 analysts.
Egalet Corp has an analyst consensus of Hold, with a price target consensus of $1.50.
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Based on Egalet Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.44 million. In comparison, last year the company had a GAAP net loss of $25.37 million.
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Egalet Corp. engages in the development, manufacture, and commercialization of innovative treatments for pain and other conditions. The firm offers ARYMO, OXAYDO and SPRIX. Its products contain non-narcotic and abuse-deterrent opioid formulations. The company was founded by Jean-Francois B. Formela in August 2013 and is headquartered in Wayne, PA.
