Teligent Inc. (NASDAQ:TLGT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $8.75 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 21.02% from the company’s current price.
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 research analysts also recently issued research reports about the stock. JMP Securities started coverage on shares of Teligent in a research report on Wednesday, June 29th. They set a “hold” rating on the stock. TheStreet upgraded shares of Teligent from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Finally, Raymond James Financial Inc. started coverage on shares of Teligent in a research report on Wednesday, June 22nd. They set a “strong-buy” rating and a $11.00 price objective on the stock. Four investment 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 company. The company presently has a consensus rating of “Buy” and an average price target of $9.25.
Teligent (NASDAQ:TLGT) opened at 7.23 on Wednesday. The company’s market capitalization is $383.88 million. Teligent has a one year low of $4.46 and a one year high of $9.18. The firm has a 50-day moving average of $7.67 and a 200 day moving average of $6.87.
Teligent (NASDAQ:TLGT) last issued its earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $17.14 million for the quarter, compared to the consensus estimate of $16.03 million. Teligent had a negative net margin of 22.81% and a negative return on equity of 1.49%. The business’s revenue was up 92.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities analysts forecast that Teligent will post $0.05 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Sanders Morris Harris Inc. boosted its stake in shares of Teligent by 9.1% in the second quarter. Sanders Morris Harris Inc. now owns 1,849,744 shares of the company’s stock worth $13,207,000 after buying an additional 153,537 shares in the last quarter. Elk Creek Partners LLC boosted its stake in shares of Teligent by 12.8% in the second quarter. Elk Creek Partners LLC now owns 2,589,771 shares of the company’s stock worth $18,491,000 after buying an additional 293,063 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Teligent during the second quarter worth approximately $125,000. Suffolk Capital Management LLC boosted its stake in shares of Teligent by 10.9% in the second quarter. Suffolk Capital Management LLC now owns 433,387 shares of the company’s stock worth $3,094,000 after buying an additional 42,467 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Teligent during the second quarter worth approximately $3,297,000. 69.62% of the stock is owned by institutional investors and hedge funds.
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.
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