Teligent Inc. (TLGT) Shares Up 2.4%
Teligent Inc. (NASDAQ:TLGT)’s share price shot up 2.4% during mid-day trading on Thursday . The company traded as high as $7.86 and last traded at $7.81, with a volume of 339,860 shares traded. The stock had previously closed at $7.63.
A number of brokerages have recently issued reports on TLGT. Zacks Investment Research downgraded Teligent from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. JMP Securities began coverage on Teligent in a research note on Wednesday, June 29th. They set a “hold” rating for the company. TheStreet raised Teligent from a “sell” rating to a “hold” rating in a research note on Thursday, June 23rd. Finally, Raymond James Financial Inc. began coverage on Teligent in a research note on Wednesday, June 22nd. They set a “strong-buy” rating and a $11.00 target price for the company. Four 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 company’s stock. Teligent currently has a consensus rating of “Buy” and an average price target of $9.42.
The firm’s 50-day moving average is $8.16 and its 200-day moving average is $6.40. The stock’s market capitalization is $414.14 million.
Teligent (NASDAQ:TLGT) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. The firm earned $17.14 million during the quarter, compared to analyst estimates of $16.03 million. The firm’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. On average, analysts predict that Teligent Inc. will post $0.05 earnings per share for the current fiscal year.
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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