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 released on Wednesday morning. Zacks Investment Research currently has $8.75 target price 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. “
TLGT has been the subject of a number of other research reports. JMP Securities began coverage on Teligent in a research report on Wednesday, June 29th. They set a hold rating for the company. TheStreet upgraded Teligent from a sell rating to a hold rating in a research report on Thursday, June 23rd. Finally, Raymond James Financial Inc. began coverage on Teligent in a research report on Wednesday, June 22nd. They set a strong-buy rating and a $11.00 price objective for the company. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $9.25.
Teligent (NASDAQ:TLGT) traded down 0.53% during mid-day trading on Wednesday, hitting $7.47. The company’s stock had a trading volume of 11,714 shares. The stock’s market cap is $396.62 million. The company’s 50 day moving average is $7.68 and its 200-day moving average is $6.86. Teligent has a 52-week low of $4.46 and a 52-week high of $9.18.
Teligent (NASDAQ:TLGT) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $16.03 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company’s revenue was up 92.8% on a year-over-year basis. On average, equities analysts predict that Teligent will post $0.05 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its stake in Teligent by 0.8% in the second quarter. California Public Employees Retirement System now owns 25,600 shares of the company’s stock valued at $183,000 after buying an additional 200 shares in the last quarter. ProShare Advisors LLC raised its stake in Teligent by 0.8% in the second quarter. ProShare Advisors LLC now owns 44,563 shares of the company’s stock valued at $318,000 after buying an additional 362 shares in the last quarter. Alliancebernstein L.P. raised its stake in Teligent by 4.9% in the second quarter. Alliancebernstein L.P. now owns 36,200 shares of the company’s stock valued at $258,000 after buying an additional 1,700 shares in the last quarter. Creative Planning raised 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 in the last quarter. Finally, Teachers Advisors Inc. raised its stake in Teligent by 7.5% in the second quarter. Teachers Advisors Inc. now owns 64,806 shares of the company’s stock valued at $463,000 after buying an additional 4,507 shares in the last quarter. 69.62% of the stock is owned by institutional investors and hedge funds.
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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