What Made Eagle Pharmaceuticals (EGRX) Stock to Decline in Q3?

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) in its Q3 2022 investor letter. Headquartered in Woodcliff Lake, New Jersey, Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) is a pharmaceutical company that develops products to treat central nervous system diseases. On December 30, 2022, Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) stock closed at $29.23 per share. One-month return of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) was -13.93%, and its shares lost 44.22% of their value over the last 52 weeks. Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) has a market capitalization of $380.455 million.

Carillon Tower Advisers made the following comment about Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) in its Q3 2022 investor letter:

Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) develops injectable products primarily for the critical care and oncology markets. Weak quarterly results and acquisition costs associated with its completed purchase of Acacia pressured the stock.”

Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 12 hedge fund portfolios held Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) at the end of the third quarter, which was 13 in the previous quarter.

We discussed Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) in another article and shared Summers Value Partners’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.