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

By Jason Carr

In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Hold rating on Eagle Pharmaceuticals Inc (EGRXResearch Report), with a price target of $58. The company’s shares opened today at $57.71.

Folkes commented:

“. Post 1Q19, we are reiterating our Neutral rating and our 12- month price target on EGRX shares of $58. Pipeline setbacks in 2018 have created an overhang on the visibility of near term growth drivers for EGRX, which keeps us on the sidelines for now. Given the current visibility, we believe EGRX stock remains fairly valued at current levels. That said, EGRX’s current business continues to perform well and the company is advancing Ryanodex for nerve agent exposure and acute radiation syndrome, both of which we believe have the potential to get into the strategic national stockpile, if successful.”

According to TipRanks.com, Folkes is a 1-star analyst with an average return of -0.9% and a 32.4% 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 $58 average price target, which is a 0.5% 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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The company has a one-year high of $85.66 and a one-year low of $36.03. Currently, Eagle Pharmaceuticals Inc has an average volume of 202.2K.

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. Most recently, in March 2019, Steven Ratoff, a Director at EGRX bought 2,340 shares for a total of $9,454.

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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.