Is Eagle Pharmaceuticals Inc (EGRX) A Good Stock To Buy?

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Due to the fact that Eagle Pharmaceuticals Inc (NASDAQ:EGRX) has faced a decline in interest from hedge fund managers, logic holds that there is a sect of hedgies that slashed their positions entirely in the third quarter. Interestingly, Jeffrey Jay and David Kroin’s Great Point Partners dumped the largest stake of all the investors watched by Insider Monkey, totaling about $21.3 million in stock. Mitchell Blutt’s fund, Consonance Capital Management, also dumped its stock, valued at about $18.7 million.

Let’s go over hedge fund activity in other stocks similar to Eagle Pharmaceuticals Inc (NASDAQ:EGRX). These stocks are Jumei International Holding Ltd (ADR) (NYSE:JMEI), National Bank Holdings Corp (NYSE:NBHC), Teekay Corporation (NYSE:TK), and Sunrun Inc (NASDAQ:RUN). This group of stocks’ market valuations match EGRX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JMEI 10 32002 0
NBHC 10 62236 0
TK 12 69990 -3
RUN 11 62462 0

As you can see these stocks had an average of 11 funds with bullish positions and the average amount invested in these stocks was $57 million, which is lower than the $267 million figure in EGRX’s case. Teekay Corporation (NYSE:TK) is the most popular stock in this table. On the other hand Jumei International Holding Ltd (ADR) (NYSE:JMEI) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Eagle Pharmaceuticals Inc (NASDAQ:EGRX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: None




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