Egalet Corporation (EGLT) Hits New 52-Week Low

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The company is now down by 3.66% since yesterday’s close of $0.98. Company shares last traded at $0.94 significantly below $1.23, the 50 day moving average and which is significantly below the 200 day moving average of $1.94. The 50 day moving average went down $-0.29 or -23.2352% and the 200 day average moved down $-1.00.

Traders are a little more bullish recently if you take note of the downtick in short interest. The stock experienced a fall in short interest between September 29, 2017 and October 13, 2017 of -2.22%. Short shares fell 101,923 over that period. Days to cover decreased from 18.0 to 10.0 and the percentage of shorted shares was 0.18% on October 13.

Egalet Corporation, launched on August 21, 2013, is a specialty pharmaceutical company. The Company is involved in developing, manufacturing and commercializing treatments for pain and other conditions. The Business’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. Its Guardian Technology is a polymer matrix tablet technology that utilizes a manufacturing process, injection molding, which results in tablets with controlled-release properties, as well as physical and chemical features that have been demonstrated to resist both common and rigorous methods of manipulation. Its Guardian Technology can be used to create tablets. Its Guardian Technology platform, which combines abuse-deterrent features and precision delivery, is applied across various classes of pharmaceutical products and can be used to develop combination products that include multiple active pharmaceutical ingredients (APIs) with similar or different release profiles..

A few notable investment firms have updated their holdings. Hightower Advisors, LLC augmented its position by buying 2,408 shares an increase of 0.9% in the quarter. Hightower Advisors, LLC claims 268,644 shares valued at $636,000. The total value of its holdings decreased 53.2%. As of quarter end Meeder Asset Management Inc had bought a total of 3,728 shares growing its stake by 1,027.0%. The value in dollars went from $1,000 to $5,000 increasing 400.0% since the last quarter.

New Jersey Better Educational Savings Trust grew its investment by buying 16,000 shares an increase of 15.4%. New Jersey Better Educational Savings Trust now holds 120,000 shares worth $154,000. The value of the position overall is down by 37.4%. Simplex Trading, LLC reduced its stake by shedding 15,139 shares a decrease of 98.9% from 06/30/2017 to 09/30/2017. Simplex Trading, LLC owns 176 shares with a value of $0. The total value of its holdings decreased 100.0%.

On July 14 JMP Securities left the stock rating at “Market Outperform” and lowered the price target from $24.00 to $6.00.

In the latest earnings report the EPS was $-4.03 and is projected to be $-2.75 for the current year with 26,263,000 shares presently outstanding. Next quarter’s EPS is expected be $-0.41 and the next full year EPS is projected to be $-1.15.

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