Teligent, Inc. (NASDAQ:TLGT) Downgraded by BidaskClub

Teligent, Inc. (NASDAQ:TLGT) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday, August 1st.

Other analysts have also issued research reports about the company. Canaccord Genuity started coverage on Teligent in a report on Monday, July 31st. They issued a “buy” rating and a $11.00 target price on the stock. Deutsche Bank AG reaffirmed a “hold” rating and issued a $9.00 target price (up previously from $8.00) on shares of Teligent in a report on Monday, July 17th. ValuEngine lowered Teligent from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Teligent from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.00.

Shares of Teligent (TLGT) traded down 0.49% during mid-day trading on Tuesday, hitting $6.15. The stock had a trading volume of 504,648 shares. The company has a 50-day moving average of $7.86 and a 200 day moving average of $7.98. The firm’s market cap is $328.35 million. Teligent has a one year low of $5.74 and a one year high of $9.54.

Teligent (NASDAQ:TLGT) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $18.40 million for the quarter, compared to analyst estimates of $20.11 million. Teligent had a negative net margin of 11.36% and a positive return on equity of 1.49%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. On average, equities research analysts forecast that Teligent will post $0.07 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. Parkwood LLC purchased a new stake in shares of Teligent during the second quarter valued at $112,000. Teza Capital Management LLC purchased a new stake in shares of Teligent during the first quarter valued at $116,000. Round Table Services LLC raised its stake in shares of 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 during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Teligent during the first quarter valued at $170,000. Finally, Cutler Group LP raised its stake in shares of Teligent by 217.6% in the first quarter. Cutler Group LP now owns 23,923 shares of the company’s stock valued at $186,000 after buying an additional 16,391 shares during the last quarter. 62.88% of the stock is currently owned by institutional investors.

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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