Eagle Test Systems Common Stock (NASDAQ: EGLT)
Eagle Test Systems is having an incredibly strong day in the market today. As soon as the opening bell rang, the stock started running for the gains. Since the bell, we’ve seen more and more upward movement. Below, we’ll talk about what we’re seeing from EGLT, why, and what we’ll be watching for ahead.
What We’re Seeing From EGLT
As mentioned above, Eagle Test Systems is having an overwhelmingly strong day in the market today. Since the start of the trading session, the stock has been in the green. Throughout the session, we’ve only seen a stronger push for the top. At the moment (11:48), EGLT is trading at $7.53 per share after a gain of $0.52 per share (7.42%) thus far today.
Why The Stock Is Headed Up
As you would come to expect by now, as soon as our partners at Trade Ideas informed us that EGLT was climbing, the CNA Finance team started digging to see exactly what was causing the movement. It didn’t take long to uncover the story. It seems as though a recent announcement with regard to a study surrounding one of it’s candidates is to blame for the gains.
Early this morning, Eagle Test Systems released results from the Intranasal Human Abuse Potential study of Egalet-002. In their statement, the company announced positive top-line results from this study – an important part of the push toward approval. As a result, investors are reacting by pushing EGLT upward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on EGLT. In particular, we’re excited to see future developments revolving around Egalet-002 as well as the rest of the company’s pipeline. We’ll keep a close eye on the news and update you as it breaks!
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