Zacks Investment Research Lowers Teligent (NASDAQ:TLGT) to Strong Sell

Zacks Investment Research lowered shares of Teligent (NASDAQ:TLGT) from a hold rating to a strong sell rating in a report released on Saturday, November 11th.

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 several other reports. Deutsche Bank reiterated a hold rating and set a $9.00 price objective (up from $8.00) on shares of Teligent in a research note on Monday, July 17th. TheStreet lowered Teligent from a c- rating to a d+ rating in a research note on Wednesday, November 1st. Canaccord Genuity initiated coverage on Teligent in a research note on Monday, July 31st. They set a buy rating and a $11.00 price objective for the company. ValuEngine lowered Teligent from a hold rating to a sell rating in a research note on Tuesday, July 25th. Finally, Roth Capital set a $9.00 target price on Teligent and gave the company a buy rating in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Teligent currently has an average rating of Hold and a consensus price target of $7.33.

Teligent (TLGT) traded up $0.26 during trading on Friday, reaching $4.02. The company’s stock had a trading volume of 999,347 shares, compared to its average volume of 430,100. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.28 and a quick ratio of 2.71. Teligent has a 1 year low of $2.82 and a 1 year high of $9.54.

Teligent (NASDAQ:TLGT) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.07). Teligent had a negative return on equity of 6.51% and a negative net margin of 16.95%. The company had revenue of $13.65 million for the quarter, compared to analyst estimates of $19.12 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The business’s revenue was down 15.5% compared to the same quarter last year. equities analysts anticipate that Teligent will post -0.2 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of 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 in the last quarter. Wells Fargo & Company MN increased its stake in shares of 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 in the last quarter. American International Group Inc. increased its stake in shares of 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 in the last quarter. Voya Investment Management LLC increased its stake in shares of Teligent by 16.1% in the second quarter. Voya Investment Management LLC now owns 23,342 shares of the company’s stock valued at $214,000 after buying an additional 3,234 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of 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 in the last quarter. Institutional investors own 70.82% of the company’s stock.

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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.

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