Omega Fund Management buys $22,021,236 stake in Egalet Corp (EGLT)

Egalet Corp (EGLT) : Omega Fund Management scooped up 74,998 additional shares in Egalet Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 2,889,926 shares of Egalet Corp which is valued at $22,021,236.Egalet Corp makes up approximately 16.29% of Omega Fund Management’s portfolio.

Other Hedge Funds, Including , New Jersey Better Educational Savings Trust added EGLT to its portfolio by purchasing 74,000 company shares during the most recent quarter which is valued at $563,880. Egalet Corp makes up approx 0.36% of New Jersey Better Educational Savings Trust’s portfolio. California State Teachers Retirement System added EGLT to its portfolio by purchasing 46,446 company shares during the most recent quarter which is valued at $353,919. Bnp Paribas Arbitrage Sa added EGLT to its portfolio by purchasing 876 company shares during the most recent quarter which is valued at $4,871.

Egalet Corp opened for trading at $8.23 and hit $8.559 on the upside on Monday, eventually ending the session at $8.44, with a gain of 3.69% or 0.3 points. The heightened volatility saw the trading volume jump to 7,66,993 shares. Company has a market cap of $212 M.

On the company’s financial health, Egalet Corp reported $-0.97 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.87. The company had revenue of $3.45 million for the quarter, compared to analysts expectations of $3.83 million. The company’s revenue was up 259.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.03 EPS.

Egalet Corporation is a specialty pharmaceutical company developing manufacturing and commercializing medicines for patients with acute and chronic pain. The Company’s products include OXAYDO and SPRIX Nasal Spray. OXAYDO is the immediate-release oxycodone product formulated to deter abuse via snorting for the management of acute and chronic moderate to severe pain where an opioid is appropriate. SPRIX Nasal Spray is the nasal spray formulation of non-steroidal anti-inflammatory drug (NSAID) ketorolac used for short-term management of moderate to moderately severe pain that requires analgesia at the opioid level. The Company is developing two late-stage product candidates using Guardian Technology. The lead program Egalet-001 is an abuse-deterrent extended-release oral morphine formulation and Egalet-002 is an abuse-deterrent extended-release oral oxycodone formulation.

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