Teligent Inc. (TLGT) Upgraded at Zacks Investment Research
Teligent Inc. (NASDAQ:TLGT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $8.75 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.76% from the stock’s previous close.
According to Zacks, “Teligent, Inc. is a specialty generic pharmaceutical company, develops, manufactures and markets topical formulations primarily in the United States. It sells generic pharmaceutical products in topical, injectable, complex and ophthalmic dosage forms. Teligent Inc., formerly known as IGI Laboratories, Inc., is based in Buena, New Jersey. “
A number of other analysts have also recently weighed in on the company. Raymond James Financial Inc. started coverage on Teligent in a research report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $11.00 price objective for the company. JMP Securities started coverage on Teligent in a research report on Wednesday, June 29th. They issued a “hold” rating for the company. Finally, TheStreet raised Teligent from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $9.25.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/teligent-inc-tlgt-upgraded-at-zacks-investment-research.html
Teligent (NASDAQ:TLGT) opened at 7.76 on Wednesday. The stock’s 50 day moving average price is $7.69 and its 200-day moving average price is $6.86. Teligent has a one year low of $4.46 and a one year high of $9.18. The company’s market capitalization is $412.02 million.
Teligent (NASDAQ:TLGT) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share 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 analysts’ expectations of $16.03 million. Teligent had a negative return on equity of 1.49% and a negative net margin of 22.81%. The business’s quarterly revenue was up 92.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. Equities analysts forecast that Teligent will post $0.05 EPS for the current year.
A number of hedge funds have recently modified their holdings of TLGT. Kopp Investment Advisors LLC boosted its stake in shares of Teligent by 16.5% in the second quarter. Kopp Investment Advisors LLC now owns 2,075,935 shares of the company’s stock worth $14,822,000 after buying an additional 293,965 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Teligent during the second quarter valued at about $1,319,000. Menta Capital LLC boosted its position in shares of Teligent by 65.5% in the second quarter. Menta Capital LLC now owns 112,085 shares of the company’s stock valued at $800,000 after buying an additional 44,380 shares during the period. Janus Capital Management LLC boosted its position in shares of Teligent by 1.7% in the second quarter. Janus Capital Management LLC now owns 4,857,372 shares of the company’s stock valued at $34,682,000 after buying an additional 78,879 shares during the period. Finally, Allianz Asset Management AG boosted its position in shares of Teligent by 20.6% in the second quarter. Allianz Asset Management AG now owns 585,465 shares of the company’s stock valued at $4,180,000 after buying an additional 100,012 shares during the period. 69.62% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Teligent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teligent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.