Mizuho Securities Cuts Price Target Ahead of Eagle Pharmaceuticals (EGRX) 3Q Report

October 26, 2016 7:23 AM EDT
Get Alerts EGRX Hot Sheet
Price: $70.07 +0.42%

Rating Summary:
    4 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Mizuho Securities maintained a Neutral rating on Eagle Pharmaceuticals (NASDAQ: EGRX), and cut the price target to $62.00 (from $65.00), ahead of the company's 3Q earnings report. Mizuho is expecting the company to report revenues of $33.9M and EPS of $0.73 vs. consensus of $41.1M and $0.75. Management indicated that it may not spend the guided-to 2016 OpEx range of $18-21M in sales & marketing, $19-21M in G&A, and $30M in R&D.

Analyst Irina Koffler commented, "We reiterate our Neutral thesis on EGRX and lower PT to $62 from $65 on adjustments to our SOTP valuation. The next potential catalysts for the stock are November 9 (3Q:16 earnings) and the November 11 Analyst Event that will focus on pipeline."

For an analyst ratings summary and ratings history on Eagle Pharmaceuticals click here. For more ratings news on Eagle Pharmaceuticals click here.

Shares of Eagle Pharmaceuticals closed at $64.52 yesterday.

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