Equities Analysts Set Expectations for Egalet Corporation’s FY2017 Earnings (NASDAQ:EGLT)

Egalet Corporation (NASDAQ:EGLT) – Equities research analysts at Gabelli lifted their FY2017 earnings per share (EPS) estimates for shares of Egalet Corporation in a research report issued on Monday. Gabelli analyst K. Kedra now expects that the specialty pharmaceutical company will earn ($2.60) per share for the year, up from their prior estimate of ($3.50). Gabelli currently has a “Buy” rating and a $9.50 target price on the stock. Gabelli also issued estimates for Egalet Corporation’s FY2018 earnings at ($1.70) EPS, FY2019 earnings at ($1.20) EPS, FY2020 earnings at ($0.80) EPS and FY2021 earnings at ($0.45) EPS.

Egalet Corporation (NASDAQ:EGLT) last posted its quarterly earnings data on Wednesday, May 10th. The specialty pharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by $0.12. The firm had revenue of $5.57 million during the quarter, compared to analysts’ expectations of $6.92 million. Egalet Corporation had a negative net margin of 494.00% and a negative return on equity of 607.49%. During the same quarter in the prior year, the firm posted ($0.76) EPS.

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Other research analysts have also issued reports about the company. Zacks Investment Research raised Egalet Corporation from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Tuesday, May 9th. Cantor Fitzgerald set a $8.00 target price on Egalet Corporation and gave the stock a “buy” rating in a research report on Thursday, June 8th. JMP Securities cut their target price on Egalet Corporation from $15.00 to $6.00 and set a “market outperform” rating on the stock in a research report on Friday, July 14th. Finally, ValuEngine lowered Egalet Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Egalet Corporation has an average rating of “Buy” and a consensus target price of $10.20.

Egalet Corporation (EGLT) traded down 2.6042% during midday trading on Wednesday, hitting $1.4025. The company had a trading volume of 149,590 shares. The firm’s market cap is $35.11 million. Egalet Corporation has a 52-week low of $1.32 and a 52-week high of $10.00. The stock has a 50 day moving average of $2.17 and a 200 day moving average of $3.95.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGLT. HighTower Advisors LLC raised its position in Egalet Corporation by 2.0% in the first quarter. HighTower Advisors LLC now owns 266,236 shares of the specialty pharmaceutical company’s stock valued at $1,358,000 after buying an additional 5,211 shares during the period. KCG Holdings Inc. raised its position in Egalet Corporation by 81.0% in the first quarter. KCG Holdings Inc. now owns 42,722 shares of the specialty pharmaceutical company’s stock valued at $218,000 after buying an additional 19,116 shares during the period. SG Americas Securities LLC raised its position in Egalet Corporation by 80.3% in the first quarter. SG Americas Securities LLC now owns 30,479 shares of the specialty pharmaceutical company’s stock valued at $155,000 after buying an additional 13,570 shares during the period. New Jersey Better Educational Savings Trust bought a new position in Egalet Corporation during the first quarter valued at approximately $510,000. Finally, Teachers Advisors LLC raised its position in Egalet Corporation by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 39,984 shares of the specialty pharmaceutical company’s stock valued at $306,000 after buying an additional 3,666 shares during the period. 63.04% of the stock is currently owned by institutional investors.

Egalet Corporation 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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