Today: The Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) Receives $18.44 Average PT from Analysts

The Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) Receives $18.44 Average PT from Analysts

Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company. Eight equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.44.

A number of brokerages recently issued reports on SGNT. Deutsche Bank AG cut shares of Sagent Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Sagent Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, July 12th. Raymond James Financial Inc. cut shares of Sagent Pharmaceuticals from a “buy” rating to a “market perform” rating in a research report on Tuesday, July 12th. TheStreet upgraded shares of Sagent Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Finally, Royal Bank Of Canada cut shares of Sagent Pharmaceuticals from an “outperform” rating to a “hold” rating in a research report on Monday, July 11th.

Shares of Sagent Pharmaceuticals (NASDAQ:SGNT) opened at 21.76 on Thursday. The stock’s 50 day moving average is $21.72 and its 200-day moving average is $15.37. Sagent Pharmaceuticals has a 12-month low of $10.55 and a 12-month high of $21.88.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vivo Capital LLC acquired a new position in shares of Sagent Pharmaceuticals during the first quarter valued at about $79,102,000. BlackRock Fund Advisors raised its position in shares of Sagent Pharmaceuticals by 7.1% in the second quarter. BlackRock Fund Advisors now owns 2,454,318 shares of the company’s stock valued at $36,766,000 after buying an additional 162,912 shares during the period. Vanguard Group Inc. raised its position in shares of Sagent Pharmaceuticals by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,932,683 shares of the company’s stock valued at $28,951,000 after buying an additional 6,913 shares during the period. Penn Capital Management Co. Inc. raised its position in shares of Sagent Pharmaceuticals by 6.2% in the second quarter. Penn Capital Management Co. Inc. now owns 1,841,035 shares of the company’s stock valued at $27,673,000 after buying an additional 107,048 shares during the period. Finally, Carlson Capital L P raised its position in shares of Sagent Pharmaceuticals by 13.3% in the second quarter. Carlson Capital L P now owns 1,351,056 shares of the company’s stock valued at $20,239,000 after buying an additional 158,288 shares during the period.

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