Teligent, Inc. (NASDAQ:TLGT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Other equities analysts have also issued reports about the company. Canaccord Genuity reiterated a “buy” rating and issued a $11.00 price objective on shares of Teligent in a research note on Tuesday, August 8th. Roth Capital set a $9.00 price objective on Teligent and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub lowered Teligent from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine lowered Teligent from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG dropped their price objective on Teligent from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, August 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Teligent has an average rating of “Hold” and an average price target of $9.33.

Shares of Teligent (NASDAQ TLGT) opened at 6.88 on Friday. Teligent has a 52 week low of $5.74 and a 52 week high of $9.54. The firm’s market cap is $367.33 million. The firm’s 50-day moving average price is $6.92 and its 200-day moving average price is $6.92.

Teligent (NASDAQ:TLGT) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $20.11 million. Teligent had a positive return on equity of 1.49% and a negative net margin of 11.36%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities research analysts expect that Teligent will post $0.07 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2017/10/13/teligent-inc-tlgt-raised-to-hold-at-zacks-investment-research.html.

Institutional investors and hedge funds have recently modified their holdings of the stock. Parkwood LLC bought a new position in Teligent during the second quarter valued at about $112,000. UBS Asset Management Americas Inc. bought a new position in Teligent during the first quarter valued at about $170,000. Renaissance Technologies LLC bought a new position in Teligent during the first quarter valued at about $198,000. American International Group Inc. increased its stake in Teligent by 7.1% during the first quarter. American International Group Inc. now owns 25,488 shares of the company’s stock valued at $199,000 after acquiring an additional 1,680 shares during the period. Finally, Voya Investment Management LLC increased its stake in Teligent by 16.1% during the second quarter. Voya Investment Management LLC now owns 23,342 shares of the company’s stock valued at $214,000 after acquiring an additional 3,234 shares during the period. Hedge funds and other institutional investors own 66.00% 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.

Get a free copy of the Zacks research report on Teligent (TLGT)

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.