Teligent Inc. (NASDAQ:TLGT) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Teligent, Inc. is a specialty generic pharmaceutical company, develops, manufactures and markets topical formulations primarily in the United States. It sells generic pharmaceutical products in topical, injectable, complex and ophthalmic dosage forms. Teligent Inc., formerly known as IGI Laboratories, Inc., is based in Buena, New Jersey. “
Separately, Roth Capital set a $10.00 target price on shares of Teligent and gave the stock a “buy” rating in a report on Friday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.44.
Shares of Teligent (NASDAQ:TLGT) traded up 0.81% on Wednesday, reaching $7.51. 50,910 shares of the company traded hands. Teligent has a 1-year low of $4.46 and a 1-year high of $9.18. The stock has a 50-day moving average price of $7.10 and a 200 day moving average price of $7.24. The firm’s market capitalization is $398.97 million.
Teligent (NASDAQ:TLGT) last issued its earnings results on Thursday, October 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.00 by $0.01. Teligent had a negative net margin of 20.85% and a negative return on equity of 0.38%. The company had revenue of $16.20 million for the quarter, compared to analysts’ expectations of $16.90 million. The company’s quarterly revenue was up 39.7% compared to the same quarter last year. Analysts anticipate that Teligent will post $0.06 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of Teligent by 17.4% in the third quarter. Creative Planning now owns 13,500 shares of the company’s stock valued at $103,000 after buying an additional 2,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Teligent during the second quarter valued at approximately $125,000. Gotham Asset Management LLC purchased a new stake in shares of Teligent during the third quarter valued at approximately $129,000. Atria Investments LLC purchased a new stake in shares of Teligent during the third quarter valued at approximately $161,000. Finally, BlackRock Advisors LLC increased its stake in shares of Teligent by 15.8% in the third quarter. BlackRock Advisors LLC now owns 22,777 shares of the company’s stock valued at $173,000 after buying an additional 3,102 shares during the last quarter. Institutional investors and hedge funds own 68.29% of the company’s stock.
Teligent Company Profile
Teligent, Inc, formerly IGI Laboratories, Inc, is a specialty generic pharmaceutical company. The Company markets and sells generic injectable pharmaceutical products under its own label in the United States and Canada. It provides development, formulation and manufacturing services to the pharmaceutical, over-the-counter (OTC) and cosmetic industries.