Teligent Inc. (TLGT) Shares Up 4.1%
Teligent Inc. (NASDAQ:TLGT) shot up 4.1% during trading on Wednesday . The stock traded as high as $8.43 and last traded at $8.41, with a volume of 147,690 shares trading hands. The stock had previously closed at $8.08.
Several research firms have recently commented on TLGT. Zacks Investment Research lowered shares of Teligent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Teligent in a research report on Tuesday, April 26th. TheStreet raised shares of Teligent from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. JMP Securities began coverage on shares of Teligent in a research report on Wednesday, June 29th. They set a “hold” rating for the company. Finally, Raymond James Financial Inc. began coverage on shares of Teligent in a research report on Wednesday, June 22nd. They set a “strong-buy” rating and a $11.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Teligent currently has an average rating of “Buy” and an average target price of $9.81.
The company’s market capitalization is $441.45 million. The stock’s 50-day moving average price is $7.12 and its 200 day moving average price is $6.22.
Teligent (NASDAQ:TLGT) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. The company had revenue of $15.70 million for the quarter, compared to the consensus estimate of $14.33 million. The firm’s quarterly revenue was up 46.7% compared to the same quarter last year. Analysts predict that Teligent Inc. will post $0.01 earnings per share for the current year.
An institutional investor recently bought a new position in Teligent stock. Russell Frank Co acquired a new position in shares of Teligent Inc. (NASDAQ:TLGT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 410,606 shares of the company’s stock, valued at approximately $3,605,000. Russell Frank Co owned approximately 0.78% of Teligent as of its most recent SEC filing.
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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