Eagle Pharma gains on raising FY profit outlook ahead of Q2 results

Eagle Pharmaceuticals

31/07/2023 18:11

** Drugmaker Eagle Pharmaceuticals Inc's shares  EGRX.O 
rise 12.9% to $21 
    ** Co raised its annual adj. per share earnings forecast
ahead of its Q2 earnings to be reported on Aug. 8
    ** Now sees adj. per share earnings of $4.40 to $4.70, up
from its previously disclosed range of $4.20 to $4.53
    ** Analysts estimated FY adj. EPS of $4.34, as per Refinitiv
data
    ** Also raised adj. EBITDA forecast range to $78.0 mln-$84.0
mln, from $74.0 mln-$80.0 mln
    ** The company cites strength and momentum of the business
as the driver for increasing guidance
    ** Including session's gain, stock down 28.5% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))