Teligent Inc. (TLGT) Trading Up 3.8%
Teligent Inc. (NASDAQ:TLGT) shares were up 3.8% during trading on Wednesday . The company traded as high as $7.65 and last traded at $7.64, with a volume of 220,959 shares traded. The stock had previously closed at $7.36.
A number of research analysts recently commented on TLGT shares. Raymond James Financial Inc. started coverage on Teligent in a research report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $11.00 price target on the stock. JMP Securities initiated coverage on Teligent in a research note on Wednesday, June 29th. They issued a “hold” rating on the stock. Zacks Investment Research lowered Teligent from a “buy” rating to a “sell” rating in a research note on Friday, March 11th. TheStreet raised Teligent from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Teligent in a research note on Wednesday, March 9th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.06.
The stock’s market cap is $397.41 million. The company’s 50 day moving average price is $6.30 and its 200 day moving average price is $6.20.
Teligent (NASDAQ:TLGT) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. The firm had revenue of $15.70 million for the quarter, compared to analysts’ expectations of $14.33 million. The firm’s revenue was up 46.7% on a year-over-year basis. On average, equities research analysts anticipate that Teligent Inc. will post $0.01 EPS for the current fiscal year.
Several hedge funds and institutional investors have recently modified their holdings of TLGT. Pembroke Management LTD purchased a new position in shares of Teligent during the fourth quarter worth approximately $28,600,000. Turner Investments L.P. bought a new stake in Teligent during the fourth quarter worth about $7,196,000. Russell Frank Co bought a new stake in Teligent during the fourth quarter worth about $3,605,000. Columbus Circle Investors bought a new stake in Teligent during the fourth quarter worth about $2,534,000. Finally, Cadence Capital Management LLC bought a new stake in Teligent during the fourth quarter worth about $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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