Mizuho Securities Cuts Price Target Ahead of Eagle Pharmaceuticals (EGRX) 3Q Report
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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."
Shares of Eagle Pharmaceuticals closed at $64.52 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesEarnings, Irina Koffler
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