Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) Sees Large Decline in Short Interest

Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,080,000 shares, a decline of 5.3% from the May 15th total of 1,140,000 shares. Based on an average trading volume of 151,900 shares, the days-to-cover ratio is presently 7.1 days. Currently, 9.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Eagle Pharmaceuticals in a research report on Friday, June 14th. They set a “hold” rating on the stock.

Hedge Funds Weigh In On Eagle Pharmaceuticals

A number of large investors have recently bought and sold shares of EGRX. Brandes Investment Partners LP boosted its holdings in Eagle Pharmaceuticals by 34.9% during the 3rd quarter. Brandes Investment Partners LP now owns 1,134,363 shares of the specialty pharmaceutical company’s stock valued at $17,889,000 after acquiring an additional 293,276 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Eagle Pharmaceuticals by 110.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 191,732 shares of the specialty pharmaceutical company’s stock valued at $1,005,000 after acquiring an additional 100,470 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Eagle Pharmaceuticals by 25.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the specialty pharmaceutical company’s stock valued at $7,885,000 after acquiring an additional 100,000 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Eagle Pharmaceuticals by 378.7% in the 4th quarter. BNP Paribas Financial Markets now owns 88,685 shares of the specialty pharmaceutical company’s stock worth $464,000 after buying an additional 70,158 shares during the period. Finally, Trexquant Investment LP lifted its holdings in shares of Eagle Pharmaceuticals by 88.0% in the 4th quarter. Trexquant Investment LP now owns 126,282 shares of the specialty pharmaceutical company’s stock worth $660,000 after buying an additional 59,095 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Eagle Pharmaceuticals Stock Performance

NASDAQ EGRX opened at $3.95 on Wednesday. The business’s 50 day moving average price is $4.22 and its 200-day moving average price is $4.98. Eagle Pharmaceuticals has a fifty-two week low of $3.21 and a fifty-two week high of $23.52. The company has a market cap of $51.31 million, a P/E ratio of 3.35 and a beta of 0.45.

Eagle Pharmaceuticals Company Profile

Eagle Pharmaceuticals, Inc, a pharmaceutical company, focuses on developing and commercializing product candidates to treat diseases of the central nervous system or metabolic critical care, and oncology in the United States. The company offers Ryanodex for malignant hyperthermia; and Belrapzo and Bendeka for chronic lymphocytic leukemia and indolent B-cell non-Hodgkin's lymphoma.