Sagent Pharmaceuticals Downgraded by Zacks to “Neutral” (SGNT)
Sagent Pharmaceuticals (NASDAQ:SGNT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, AR Network reports. They currently have a $25.90 price objective on the stock. Zacks‘ target price would suggest a potential upside of 26.22% from the stock’s previous close.
In other Sagent Pharmaceuticals news, major shareholder Morgan Stanley Investment Mana sold 47,826 shares of Sagent Pharmaceuticals stock on the open market in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $20.27, for a total transaction of $969,433.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of other analysts have also recently weighed in on SGNT. Analysts at RBC Capital upgraded shares of Sagent Pharmaceuticals from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, September 11th. They now have a $25.00 price target on the stock, up previously from $22.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Sagent Pharmaceuticals from $18.00 to $21.00 in a research note to investors on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.11.
Shares of Sagent Pharmaceuticals (NASDAQ:SGNT) traded down 0.63% on Tuesday, hitting $20.39. The stock had a trading volume of 105,275 shares. Sagent Pharmaceuticals has a 52 week low of $13.39 and a 52 week high of $24.27. The stock has a 50-day moving average of $21.99 and a 200-day moving average of $19.98. The company has a market cap of $575.0 million and a P/E ratio of 29.74.
Sagent Pharmaceuticals (NASDAQ:SGNT) last released its earnings data on Tuesday, August 6th. The company reported $0.46 EPS for the quarter. The company had revenue of $59.60 million for the quarter, compared to the consensus estimate of $59.27 million.
Sagent Pharmaceuticals, Inc (NASDAQ:SGNT) is an injectable pharmaceutical company, which develops and sources products, which the Company sells in the United States.
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