Egalet Corp (EGLT) was Initiated by Gabelli & Co to “Buy” and the brokerage firm has set the Price Target at $9.50. Gabelli & Co advised their investors in a research report released on Sep 13, 2016.
On the company’s financial health, Egalet Corp reported $-0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.87. The company had revenue of $3.45 million for the quarter, compared to analysts expectations of $3.83 million. The company’s revenue was up 259.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.03 EPS.
Egalet Corp opened for trading at $7.07 and hit $7.599 on the upside on Monday, eventually ending the session at $7.41, with a gain of 4.96% or 0.35 points. The heightened volatility saw the trading volume jump to 346,247 shares. Company has a market cap of $186 M.
In a different news, on Jul 6, 2016, Robert S Radie (President and CEO) sold 15,000 shares at $5.01 per share price. According to the SEC, on Jul 6, 2016, Stan Musial (Chief Financial Officer) sold 13,480 shares at $5.05 per share price. On Jul 5, 2016, Jeffrey M. Dayno (Chief Medical Officer) sold 536 shares at $4.65 per share price, according to the Form-4 filing with the securities and exchange commission.
Egalet Corporation is a specialty pharmaceutical company developing manufacturing and commercializing medicines for patients with acute and chronic pain. The Company’s products include OXAYDO and SPRIX Nasal Spray. OXAYDO is the immediate-release oxycodone product formulated to deter abuse via snorting for the management of acute and chronic moderate to severe pain where an opioid is appropriate. SPRIX Nasal Spray is the nasal spray formulation of non-steroidal anti-inflammatory drug (NSAID) ketorolac used for short-term management of moderate to moderately severe pain that requires analgesia at the opioid level. The Company is developing two late-stage product candidates using Guardian Technology. The lead program Egalet-001 is an abuse-deterrent extended-release oral morphine formulation and Egalet-002 is an abuse-deterrent extended-release oral oxycodone formulation.