Teligent, Inc. (NASDAQ:TLGT) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d+” rating in a note issued to investors on Wednesday.
A number of other brokerages have also recently issued reports on TLGT. Zacks Investment Research cut shares of Teligent from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Deutsche Bank AG reiterated a “hold” rating and set a $9.00 target price (up previously from $8.00) on shares of Teligent in a research report on Monday, July 17th. ValuEngine cut shares of Teligent from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Teligent from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Canaccord Genuity assumed coverage on shares of Teligent in a research report on Monday, July 31st. They set a “buy” rating and a $11.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $9.33.
Teligent (NASDAQ:TLGT) last announced its earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $20.11 million. Teligent had a positive return on equity of 1.49% and a negative net margin of 11.36%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS.
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A number of large investors have recently modified their holdings of TLGT. Wells Fargo & Company MN grew its holdings in Teligent by 3.1% during the 1st quarter. Wells Fargo & Company MN now owns 45,617 shares of the company’s stock worth $357,000 after acquiring an additional 1,369 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Teligent during the 1st quarter worth about $170,000. American International Group Inc. grew its holdings in Teligent by 7.1% during the 1st quarter. American International Group Inc. now owns 25,488 shares of the company’s stock worth $199,000 after acquiring an additional 1,680 shares during the last quarter. Vanguard Group Inc. grew its holdings in Teligent by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,976,891 shares of the company’s stock worth $15,440,000 after acquiring an additional 185,624 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Teligent by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 417,679 shares of the company’s stock worth $3,262,000 after acquiring an additional 24,149 shares during the last quarter. 66.56% of the stock is currently owned by hedge funds and other institutional investors.
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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