Sagent Pharmaceuticals Inc. (SGNT) Sees Unusually-High Trading Volume
Shares of Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) saw unusually-strong trading volume on Thursday . Approximately 976,924 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 546,683 shares.The stock last traded at $21.73 and had previously closed at $21.75.
A number of analysts recently weighed in on SGNT shares. Zacks Investment Research raised shares of Sagent Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Tuesday, July 12th. Bank of America Corp. reissued a “hold” rating and issued a $13.00 target price on shares of Sagent Pharmaceuticals in a research note on Monday, May 9th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $18.00 target price on shares of Sagent Pharmaceuticals in a research note on Wednesday, May 4th. Jefferies Group reissued a “hold” rating and issued a $15.00 target price (up previously from $13.00) on shares of Sagent Pharmaceuticals in a research note on Friday, June 17th. Finally, Royal Bank Of Canada cut shares of Sagent Pharmaceuticals from an “outperform” rating to a “hold” rating in a research note on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.54.
The company’s market cap is $715.79 million. The company’s 50 day moving average is $20.81 and its 200-day moving average is $15.04.
An institutional investor recently raised its position in Sagent Pharmaceuticals stock. New York State Common Retirement Fund raised its stake in Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) by 27.6% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 232,271 shares of the company’s stock after buying an additional 50,258 shares during the period. New York State Common Retirement Fund owned about 0.71% of Sagent Pharmaceuticals worth $3,695,000 at the end of the most recent quarter.
Sagent Pharmaceuticals, Inc is a specialty and generic pharmaceutical company. The Company is a provider of pharmaceuticals to the hospital market, which it sells primarily throughout North America. It is focused on developing, manufacturing, sourcing and marketing injectable pharmaceutical products to the hospital market.
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