Egalet Corporation (EGLT) Sees Strong Trading Volume
Shares of Egalet Corporation (NASDAQ:EGLT) saw unusually-high trading volume on Thursday . Approximately 11,087,766 shares were traded during mid-day trading, an increase of 1,637% from the previous session’s volume of 638,336 shares.The stock last traded at $1.15 and had previously closed at $0.83.
EGLT has been the topic of several research analyst reports. Gabelli lowered shares of Egalet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Egalet Corporation in a report on Sunday, August 20th. Stifel Nicolaus restated a “buy” rating and set a $6.00 price objective (down previously from $14.00) on shares of Egalet Corporation in a report on Thursday, August 10th. Finally, Guggenheim set a $7.00 price objective on shares of Egalet Corporation and gave the stock a “buy” rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $7.10.
The company has a quick ratio of 2.68, a current ratio of 2.73 and a debt-to-equity ratio of -3.43.
A number of large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its holdings in Egalet Corporation by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 45,963 shares of the specialty pharmaceutical company’s stock valued at $109,000 after buying an additional 500 shares during the period. HighTower Advisors LLC increased its stake in Egalet Corporation by 0.9% in the second quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock worth $636,000 after purchasing an additional 2,408 shares during the period. New Jersey Better Educational Savings Trust increased its stake in Egalet Corporation by 4.0% in the second quarter. New Jersey Better Educational Savings Trust now owns 104,000 shares of the specialty pharmaceutical company’s stock worth $246,000 after purchasing an additional 4,000 shares during the period. KCG Holdings Inc. increased its stake 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 worth $218,000 after purchasing an additional 19,116 shares during the period. Finally, Virtu KCG Holdings LLC increased its stake in Egalet Corporation by 87.0% in the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after purchasing an additional 37,155 shares during the period. Institutional investors own 33.39% of the company’s stock.
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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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