Teligent Inc. (TLGT) Trading 3.8% Higher
Shares of Teligent Inc. (NASDAQ:TLGT) traded up 3.8% on Wednesday . The company traded as high as $7.65 and last traded at $7.64, with a volume of 220,959 shares changing hands. The stock had previously closed at $7.36.
A number of analysts recently weighed in on the stock. TheStreet raised shares of Teligent from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Deutsche Bank AG lowered their price target on shares of Teligent from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, March 10th. Zacks Investment Research lowered shares of Teligent from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Teligent in a report on Tuesday, April 26th. Finally, Raymond James Financial Inc. assumed coverage on shares of Teligent in a report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $11.00 price target for the company. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.06.
The firm’s market cap is $413.33 million. The stock’s 50-day moving average price is $6.44 and its 200 day moving average price is $6.22.
Teligent (NASDAQ:TLGT) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. The firm had revenue of $15.70 million for the quarter, compared to the consensus estimate of $14.33 million. The firm’s revenue was up 46.7% on a year-over-year basis. Equities analysts predict that Teligent Inc. will post $0.01 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. DIAM Co. Ltd. purchased a new stake in shares of Teligent during the fourth quarter worth $1,018,000. Russell Frank Co purchased a new stake in shares of Teligent during the fourth quarter worth $3,605,000. Pembroke Management LTD purchased a new stake in shares of Teligent during the fourth quarter worth $28,600,000. Turner Investments L.P. purchased a new stake in shares of Teligent during the fourth quarter worth $7,196,000. Finally, Cadence Capital Management LLC purchased a new stake in shares of Teligent during the fourth quarter worth $1,036,000.
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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