Strength Seen in Egalet (EGLT): Stock Soars 23.9% – Tale of the Tape

January 23, 2015 Technicals 0

Zacks

Egalet Corporation (EGLT) was a big mover last session with its shares surging almost 24% on the day. The upside came on the back of the company announcing positive results from a Category 3 human abuse liability (HAL) study of Egalet-001 – an abuse-deterrent, extended-release, oral morphine formulation in late-stage clinical development, for the management of severe pain. This development led to far more shares changing hands on Jan 22 than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $4.85 to $6.08.

This specialty pharmaceutical company has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate hasn’t been in trend either. Yesterday’s price climb is encouraging though, so make sure to keep a close watch on this firm in the near future.

Egalet currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Investors interested in the Med-Drugs industry may consider BioCryst Pharmaceuticals, Inc. (BCRX) which sports a favorable Zacks Rank #1 (Strong Buy).

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