Eagle Pharmaceuticals Inc (EGRX) Receives a Buy from Cantor Fitzgerald

By Carrie Williams

Cantor Fitzgerald analyst Brandon Folkes maintained a Buy rating on Eagle Pharmaceuticals Inc (NASDAQ: EGRX) today and set a price target of $80. The company’s shares closed yesterday at $56.90.

Folkes noted:

“Eagle has carved out a leading position in the specialty pharma market, via its 505(b) (2) strategy. We expect upwards earnings revisions to the Street’s current forecasts as the company advances its pipeline and provides date-certain launch timeframes for its pipeline. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $80.”

According to TipRanks.com, Folkes is a 2-star analyst with an average return of 1.3% and a 41.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Collegium Pharmaceutical.

Eagle Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $79.25.

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Based on Eagle Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.66 million. In comparison, last year the company had a net profit of $15.43 million.

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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.