Analysts Set Egalet Corp (EGLT) Target Price at $5.38
Shares of Egalet Corp (NASDAQ:EGLT) have earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.38.
A number of research firms have recently weighed in on EGLT. Stifel Nicolaus lowered Egalet from a “buy” rating to a “hold” rating and set a $1.50 price objective for the company. in a research note on Wednesday, January 3rd. Cantor Fitzgerald set a $7.00 price objective on Egalet and gave the stock a “buy” rating in a research note on Friday, December 15th. Finally, Gabelli lowered Egalet from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th.
A number of institutional investors have recently made changes to their positions in EGLT. NJ State Employees Deferred Compensation Plan bought a new position in Egalet during the third quarter valued at approximately $435,000. Goldman Sachs Group Inc. boosted its stake in Egalet by 515.7% during the second quarter. Goldman Sachs Group Inc. now owns 123,454 shares of the specialty pharmaceutical company’s stock valued at $293,000 after buying an additional 103,402 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in Egalet by 87.0% during the second quarter. Virtu KCG Holdings LLC now owns 79,877 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 37,155 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Egalet by 0.9% during the second quarter. HighTower Advisors LLC now owns 268,644 shares of the specialty pharmaceutical company’s stock valued at $636,000 after buying an additional 2,408 shares during the last quarter. 50.32% of the stock is owned by institutional investors.
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Egalet 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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