Teligent Inc. (TLGT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Teligent Inc. (NASDAQ:TLGT) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $8.75 price objective on the stock.

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 a number of other reports. TheStreet upgraded Teligent from a sell rating to a hold rating in a report on Thursday, June 23rd. Raymond James Financial Inc. initiated coverage on Teligent in a report on Wednesday, June 22nd. They set a strong-buy rating and a $11.00 price target for the company. Finally, JMP Securities initiated coverage on Teligent in a research report on Wednesday, June 29th. They set a hold rating on the stock. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $9.25.

Shares of Teligent (NASDAQ:TLGT) opened at 7.08 on Wednesday. The company’s 50 day moving average is $7.63 and its 200-day moving average is $6.93. The company’s market capitalization is $375.91 million. Teligent has a 52 week low of $4.46 and a 52 week high of $9.18.

Teligent (NASDAQ:TLGT) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Teligent had a negative return on equity of 1.49% and a negative net margin of 22.81%. The company earned $17.14 million during the quarter, compared to analyst estimates of $16.03 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 92.8% compared to the same quarter last year. On average, analysts expect that Teligent will post $0.05 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TLGT. Sanders Morris Harris Inc. boosted its stake in Teligent by 9.1% in the second quarter. Sanders Morris Harris Inc. now owns 1,849,744 shares of the company’s stock worth $13,207,000 after buying an additional 153,537 shares in the last quarter. Elk Creek Partners LLC boosted its stake in shares of Teligent by 12.8% in the second quarter. Elk Creek Partners LLC now owns 2,589,771 shares of the company’s stock worth $18,491,000 after buying an additional 293,063 shares during the period. Bank of Montreal Can bought a new stake in shares of Teligent during the second quarter worth $125,000. Suffolk Capital Management LLC boosted its stake in shares of Teligent by 10.9% in the second quarter. Suffolk Capital Management LLC now owns 433,387 shares of the company’s stock worth $3,094,000 after buying an additional 42,467 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Teligent during the second quarter worth $3,297,000. Institutional investors and hedge funds own 69.64% of the company’s stock.

About Teligent

Teligent, Inc, formerly IGI Laboratories, Inc, is a specialty generic pharmaceutical company. The Company markets and sells generic injectable pharmaceutical products under its own label in the United States and Canada. It provides development, formulation and manufacturing services to the pharmaceutical, over-the-counter (OTC) and cosmetic industries.

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