Zacks Investment Research Lowers Teligent, Inc. (TLGT) to Strong Sell

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

TLGT has been the topic of several other reports. Roth Capital set a $9.00 price objective on shares of Teligent and gave the stock a buy rating in a research report on Wednesday, August 9th. Canaccord Genuity restated a buy rating and issued a $11.00 price objective on shares of Teligent in a research report on Tuesday, August 8th. TheStreet cut shares of Teligent from a c- rating to a d+ rating in a research report on Wednesday, November 1st. Deutsche Bank AG restated a hold rating and issued a $9.00 price objective (up from $8.00) on shares of Teligent in a research report on Monday, July 17th. Finally, ValuEngine cut shares of Teligent from a hold rating to a sell rating in a research report on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $7.33.

Shares of Teligent (NASDAQ TLGT) opened at $3.48 on Friday. Teligent has a 52-week low of $2.82 and a 52-week high of $9.54. The company has a debt-to-equity ratio of 1.99, a quick ratio of 3.71 and a current ratio of 4.37.

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

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Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in Teligent during the second quarter valued at approximately $51,431,000. Stifel Financial Corp bought a new position in Teligent during the second quarter valued at approximately $6,876,000. FMR LLC bought a new position in Teligent during the second quarter valued at approximately $6,543,000. Russell Investments Group Ltd. grew its position in Teligent by 124.1% during the second quarter. Russell Investments Group Ltd. now owns 1,043,046 shares of the company’s stock valued at $9,544,000 after acquiring an additional 577,635 shares during the last quarter. Finally, RK Capital Management LLC bought a new position in Teligent during the second quarter valued at approximately $4,581,000. Institutional investors own 65.85% 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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