Mizuho Securities Reiterates a Sell Rating on Eagle Pharmaceuticals

By Jason Carr

Mizuho Securities analyst Irina Rivkind Koffler reiterated a Sell rating on Eagle Pharmaceuticals (NASDAQ: EGRX) today and set a price target of $40. The company’s shares opened today at $59.

Rivkind Koffler said:

“We don’t yet have this product in our model, and don’t expect it to be a meaningful revenue generator because Treanda powder currently has minimal market share. “Big bag” may provide insurance if Eagle fails to bar Treanda generics from the market via its Orphan Drug litigation, in our view. The Fulvestrant clinical trial is fully enrolled, and data are expected in the fall. Additionally, the FDA accepted Eagle’s Vasostrict ANDA, which Endo indicated would be subject to the full litigation pathway. We have no estimates for the Ryanodex program for nerve agent exposure and note that Eagle did not provide an update on its drug- induced hyperthermia program, which we believe could get dropped. We summarize 1Q:18 performance below and reiterate our Underperform rating.”

According to TipRanks.com, Koffler is a 5-star analyst with an average return of 12.2% and a 46.9% 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 Hold, with a price target consensus of $55.50.

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Eagle Pharmaceuticals’ market cap is currently $892.8M and has a P/E ratio of 18.44. The company has a Price to Book ratio of 4.98.

Based on the recent corporate insider activity of 14 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.