Teligent, Inc. (NASDAQ:TLGT) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Teligent, Inc. (NASDAQ:TLGT) from a hold rating to a sell rating in a research report released on Thursday morning.

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. “

Teligent (TLGT) opened at 8.88 on Thursday. The stock’s market cap is $472.65 million. Teligent has a 52 week low of $5.74 and a 52 week high of $9.54. The company’s 50 day moving average is $8.82 and its 200 day moving average is $7.73.

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Several hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. bought a new stake in Teligent during the first quarter valued at approximately $170,000. 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 in the last quarter. Russell Investments Group Ltd. boosted its stake in Teligent by 4.3% in the first quarter. Russell Investments Group Ltd. now owns 465,411 shares of the company’s stock valued at $3,634,000 after buying an additional 19,310 shares in the last quarter. Round Table Services LLC boosted its stake in Teligent by 46.6% in the first quarter. Round Table Services LLC now owns 19,478 shares of the company’s stock valued at $152,000 after buying an additional 6,191 shares in the last quarter. Finally, Columbus Circle Investors boosted its stake in Teligent by 62.6% in the first quarter. Columbus Circle Investors now owns 196,430 shares of the company’s stock valued at $1,534,000 after buying an additional 75,595 shares in the last quarter. Institutional investors and hedge funds own 63.62% 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.

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