Sagent Pharmaceuticals Lowered to Hold at Needham & Company LLC (SGNT)
Sagent Pharmaceuticals (NASDAQ:SGNT) was downgraded by equities research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $25.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 3.01% from the company’s current price. The analysts noted that the move was a valuation call.
In other Sagent Pharmaceuticals news, Director Robert J. Flanagan sold 16,000 shares of Sagent Pharmaceuticals stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $25.60, for a total transaction of $409,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on SGNT. Analysts at S&P Equity Research downgraded shares of Sagent Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $28.00 price target on the stock, up previously from $25.00. Separately, analysts at Bank of America downgraded shares of Sagent Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $28.00 price target on the stock, up previously from $25.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Sagent Pharmaceuticals in a research note on Thursday, May 15th. They now have a $23.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, Sagent Pharmaceuticals presently has an average rating of “Hold” and an average price target of $26.10.
Shares of Sagent Pharmaceuticals (NASDAQ:SGNT) traded down 4.75% on Thursday, hitting $24.27. The stock had a trading volume of 321,098 shares. Sagent Pharmaceuticals has a 52-week low of $17.49 and a 52-week high of $27.57. The stock’s 50-day moving average is $25.54 and its 200-day moving average is $22.58. The company has a market cap of $764.3 million and a price-to-earnings ratio of 55.75.
Sagent Pharmaceuticals (NASDAQ:SGNT) last announced its earnings results on Wednesday, July 30th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.10. The company had revenue of $69.20 million for the quarter, compared to the consensus estimate of $67.14 million. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts expect that Sagent Pharmaceuticals will post $0.23 EPS for the current fiscal year.
Sagent Pharmaceuticals, Inc (NASDAQ:SGNT) is an injectable pharmaceutical company, which develops and sources products, which the Company sells in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.