Teligent, Inc. (TLGT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Teligent, Inc. (NASDAQ:TLGT) from a hold rating to a strong sell rating in a report released on Saturday.

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. “

TLGT has been the subject of a number of other research reports. Canaccord Genuity reissued a buy rating and issued a $11.00 price target on shares of Teligent in a research note on Tuesday, August 8th. Roth Capital set a $9.00 price target on shares of Teligent and gave the stock a buy rating in a research note on Wednesday, August 23rd. BidaskClub cut shares of Teligent from a hold rating to a sell rating in a research note on Monday, July 24th. Deutsche Bank AG reaffirmed a hold rating and issued a $9.00 price objective (up previously from $8.00) on shares of Teligent in a research note on Monday, July 17th. Finally, ValuEngine cut shares of Teligent from a hold rating to a sell rating in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $7.33.

Teligent (NASDAQ:TLGT) opened at $3.51 on Friday. The company has a quick ratio of 3.71, a current ratio of 4.37 and a debt-to-equity ratio of 1.99. Teligent has a 12 month low of $2.82 and a 12 month high of $9.54.

Teligent (NASDAQ:TLGT) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.07). Teligent had a negative return on equity of 6.38% and a negative net margin of 16.95%. The company had revenue of $13.65 million during the quarter, compared to analysts’ expectations of $19.12 million. During the same period in the prior year, the firm earned $0.01 EPS. Teligent’s quarterly revenue was down 15.5% on a year-over-year basis. equities research analysts forecast that Teligent will post -0.13 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of TLGT. Janus Henderson Group PLC bought a new stake in Teligent during the 2nd quarter valued at $51,431,000. Stifel Financial Corp bought a new stake in Teligent during the 2nd quarter valued at $6,876,000. FMR LLC bought a new stake in Teligent during the 2nd quarter valued at $6,543,000. Russell Investments Group Ltd. raised its holdings in Teligent by 124.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,043,046 shares of the company’s stock valued at $9,544,000 after buying an additional 577,635 shares during the last quarter. Finally, RK Capital Management LLC bought a new stake in Teligent during the 2nd quarter valued at $4,581,000. Institutional investors own 65.85% of the company’s stock.

About Teligent

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.

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