Teligent Inc. (TLGT) Sees Large Volume Increase
Shares of Teligent Inc. (NASDAQ:TLGT) saw an uptick in trading volume on Monday . 450,021 shares traded hands during trading, an increase of 13% from the previous session’s volume of 398,636 shares.The stock last traded at $8.36 and had previously closed at $8.34.
A number of research firms recently commented on TLGT. Zacks Investment Research raised shares of Teligent from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research report on Tuesday, July 12th. JMP Securities began coverage on shares of Teligent in a report on Wednesday, June 29th. They issued a “hold” rating on the stock. TheStreet raised shares of Teligent from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Raymond James Financial Inc. began coverage on shares of Teligent in a report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $11.00 target price on the stock. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Teligent in a report on Tuesday, April 26th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $9.42.
The company’s market cap is $447.29 million. The stock’s 50 day moving average is $7.23 and its 200 day moving average is $6.19.
Teligent (NASDAQ:TLGT) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The business earned $15.70 million during the quarter, compared to analysts’ expectations of $14.33 million. The firm’s revenue for the quarter was up 46.7% compared to the same quarter last year. On average, equities research analysts anticipate that Teligent Inc. will post $0.01 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Teligent stock. Russell Frank Co purchased a new position in Teligent Inc. (NASDAQ:TLGT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 410,606 shares of the company’s stock, valued at approximately $3,605,000. Russell Frank Co owned 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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