Sagent Pharmaceuticals Inc. (SGNT) Sees Large Volume Increase
Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) shares saw unusually-high trading volume on Thursday . Approximately 976,924 shares traded 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.
SGNT has been the subject of a number of research reports. Bank of America Corp. restated a “hold” rating and issued a $13.00 target price on shares of Sagent Pharmaceuticals in a research note on Monday, May 9th. Zacks Investment Research upgraded Sagent Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sagent Pharmaceuticals in a research note on Wednesday, June 1st. Piper Jaffray Cos. lowered Sagent Pharmaceuticals from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $21.75 in a research note on Monday, July 11th. Finally, Raymond James Financial Inc. lowered Sagent Pharmaceuticals from a “buy” rating to a “market perform” rating in a research note on Tuesday, July 12th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.54.
The company has a 50 day moving average price of $20.62 and a 200 day moving average price of $14.99. The stock’s market capitalization is $715.13 million.
A hedge fund recently raised its stake in Sagent Pharmaceuticals stock. New York State Common Retirement Fund increased its position in shares of Sagent Pharmaceuticals Inc. (NASDAQ:SGNT) by 27.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 approximately 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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