Teligent, Inc. (NASDAQ:TLGT) Given Buy Rating at Canaccord Genuity
Teligent, Inc. (NASDAQ:TLGT)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday.
The analysts wrote, “We’re confident that the company’s revised expectations are achievable and delays at the agency will resolve in short order. We continue to view Teligent as a uniquely positioned generic company poised for meaningful growth over the next several years. We maintain our BUY rating and $11 price target on TLGT shares. Light revenue due to lidocaine ointment and Zantac; lidocaine solution a surprising star in the report. Teligent’s 2Q/17 revenue was $18.4 mm compared to our $19mm estimate and $20.3 mm consensus. In our post-launch thoughts, we believed investors were expecting a light quarter and potential downward revision to 2H/17 expectations. Adjusted loss per share was ($0.01) compared to our EPS estimate of +$0.01 and consensus of +$0.02. Teligent saw incremental competition and double-digit price erosion on lidocaine ointment and a return of a competitor on Zantac injection coupled with lower-than-expected Zantac utilization rates due to recent inventory shortages that changed physician use patterns.””
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Teligent from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine cut Teligent from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Deutsche Bank AG reiterated a “hold” rating and issued a $9.00 price objective (up from $8.00) on shares of Teligent in a report on Monday, July 17th. Finally, Zacks Investment Research cut Teligent from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.50.
Teligent (NASDAQ:TLGT) traded down 1.96% during trading on Tuesday, hitting $7.02. The stock had a trading volume of 560,165 shares. The company’s market cap is $373.65 million. The firm’s 50-day moving average price is $8.60 and its 200-day moving average price is $8.00. Teligent has a 52-week low of $5.75 and a 52-week high of $9.54.
Teligent (NASDAQ:TLGT) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Teligent had a negative net margin of 14.35% and a positive return on equity of 5.43%. The business had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $20.11 million. During the same quarter in the prior year, the firm earned $0.02 EPS. Teligent’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Teligent will post $0.17 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Teligent, Inc. (NASDAQ:TLGT) Given Buy Rating at Canaccord Genuity” was first posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/08/teligent-inc-nasdaqtlgt-given-buy-rating-at-canaccord-genuity.html.
Large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in Teligent by 0.4% in the second quarter. Rhumbline Advisers now owns 49,622 shares of the company’s stock valued at $454,000 after buying an additional 200 shares during the last quarter. Teachers Advisors LLC boosted its stake in Teligent by 1.0% in the fourth quarter. Teachers Advisors LLC now owns 65,454 shares of the company’s stock valued at $433,000 after buying an additional 648 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Teligent by 3.1% in the first quarter. Wells Fargo & Company MN now owns 45,617 shares of the company’s stock valued at $357,000 after buying an additional 1,369 shares during the last quarter. American International Group Inc. boosted its stake in Teligent by 7.1% in the first quarter. American International Group Inc. now owns 25,488 shares of the company’s stock valued at $199,000 after buying an additional 1,680 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Teligent by 9.1% in the first quarter. Bank of America Corp DE now owns 39,458 shares of the company’s stock valued at $307,000 after buying an additional 3,293 shares during the last quarter. Institutional investors own 62.75% of the company’s stock.
Teligent Company Profile
Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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.