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Egalet Corp Receives a Buy from Cantor Fitzgerald
January 9, 2017 Christine Brown Healthcare Leave a comment
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In a report released today, Chiara Russo from Cantor Fitzgerald reiterated a Buy rating on Egalet Corp (NASDAQ: EGLT), with a price target of $21. The company’s shares opened today at $8.38.

According to TipRanks.com, Russo is a 1-star analyst with an average return of -1.1% and a 47.5% success rate. Russo covers the Healthcare sector, focusing on stocks such as Paratek Pharmaceuticals, Axsome Therapeutics Inc, and Flexion Therapeutics.

Egalet Corp has an analyst consensus of Moderate Buy, with a price target consensus of $15.

Based on Egalet Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $4.71 million and GAAP net loss of $26.94 million. In comparison, last year the company earned revenue of $19.38 million and had a GAAP net loss of $6.79 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.

Egalet Corp. develops and manufactures pharmaceutical products. It provides pipeline of clinical stage opioid based product candidates that are specifically designed to deter abuse by physical and chemical manipulation. It includes products SPRIX nasal spray and OXAYDO tablets which are used to treat pain. The company was founded in August 2013 and is headquartered in Malvern, PA.