Egalet Corp (EGLT) Expected to Post Quarterly Sales of $8.54 Million
Wall Street analysts expect Egalet Corp (NASDAQ:EGLT) to announce $8.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Egalet’s earnings, with the highest sales estimate coming in at $8.80 million and the lowest estimate coming in at $8.28 million. Egalet reported sales of $6.14 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.1%. The company is scheduled to issue its next earnings results on Thursday, March 8th.
On average, analysts expect that Egalet will report full-year sales of $8.54 million for the current financial year, with estimates ranging from $26.00 million to $27.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $44.90 million per share, with estimates ranging from $36.00 million to $53.90 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Egalet.
Egalet (NASDAQ:EGLT) last posted its quarterly earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.01.
Egalet (EGLT) opened at $0.96 on Thursday. Egalet has a 52-week low of $0.80 and a 52-week high of $5.65. The company has a debt-to-equity ratio of -3.43, a current ratio of 2.73 and a quick ratio of 2.68. The stock has a market capitalization of $41.52, a PE ratio of -0.28 and a beta of 0.44.
A number of large investors have recently modified their holdings of EGLT. Virtu KCG Holdings LLC raised its position in Egalet by 87.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock worth $189,000 after buying an additional 37,155 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Egalet by 515.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock worth $293,000 after buying an additional 103,402 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Egalet during the 3rd quarter valued at about $435,000. HighTower Advisors LLC grew its stake in shares of Egalet by 0.9% during the 2nd quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after purchasing an additional 2,408 shares during the period. Finally, GMT Capital Corp bought a new stake in shares of Egalet during the 2nd quarter valued at about $1,281,000. 50.63% of the stock is owned by institutional investors and hedge funds.
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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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