Teligent Inc. (TLGT) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Teligent Inc. (NASDAQ:TLGT) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $8.75 price target on the stock.
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. “
Several other equities research analysts have also issued reports on the company. JMP Securities assumed coverage on Teligent in a research report on Wednesday, June 29th. They set a hold rating for the company. TheStreet raised Teligent from a sell rating to a hold rating in a research report on Thursday, June 23rd. Finally, Raymond James Financial Inc. assumed coverage on Teligent in a research report on Wednesday, June 22nd. They set a strong-buy rating and a $11.00 target price for the company. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $9.25.
Shares of Teligent (NASDAQ:TLGT) traded down 0.53% during midday trading on Wednesday, hitting $7.47. 11,714 shares of the stock were exchanged. The stock’s 50-day moving average price is $7.68 and its 200-day moving average price is $6.86. Teligent has a 1-year low of $4.46 and a 1-year high of $9.18. The firm’s market capitalization is $396.62 million.
Teligent (NASDAQ:TLGT) last announced its earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. Teligent had a negative return on equity of 1.49% and a negative net margin of 22.81%. The firm earned $17.14 million during the quarter, compared to analyst estimates of $16.03 million. During the same period last year, the firm posted ($0.05) EPS. The business’s revenue was up 92.8% compared to the same quarter last year. On average, analysts forecast that Teligent will post $0.05 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Atria Investments LLC acquired a new stake in Teligent during the third quarter valued at $161,000. Creative Planning boosted its stake in 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 during the last quarter. Kopp Investment Advisors LLC boosted its stake in Teligent by 16.5% in the second quarter. Kopp Investment Advisors LLC now owns 2,075,935 shares of the company’s stock valued at $14,822,000 after buying an additional 293,965 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Teligent during the second quarter valued at $1,319,000. Finally, Menta Capital LLC boosted its stake in Teligent by 65.5% in the second quarter. Menta Capital LLC now owns 112,085 shares of the company’s stock valued at $800,000 after buying an additional 44,380 shares during the last quarter. 69.62% of the stock is currently owned by hedge funds and other institutional investors.
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.
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