Teligent Inc. (TLGT) Trading Down 1.4%
Teligent Inc. (NASDAQ:TLGT) traded down 1.4% on Monday . The stock traded as low as $7.88 and last traded at $7.91, with a volume of 65,004 shares changing hands. The stock had previously closed at $8.02.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Teligent from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research report on Wednesday, July 27th. JMP Securities assumed coverage on shares of Teligent in a research report on Wednesday, June 29th. They set a “hold” rating for the company. TheStreet raised shares of Teligent from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Finally, Raymond James Financial Inc. assumed coverage on shares of Teligent in a research report on Wednesday, June 22nd. They set a “strong-buy” rating and a $11.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $9.42.
The company’s market capitalization is $413.08 million. The company has a 50 day moving average of $7.94 and a 200-day moving average of $6.58.
Teligent (NASDAQ:TLGT) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Teligent had a negative net margin of 22.81% and a negative return on equity of 1.49%. The company had revenue of $17.14 million for the quarter, compared to analysts’ expectations of $16.03 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Teligent’s quarterly revenue was up 92.8% on a year-over-year basis. Equities analysts predict that Teligent Inc. will post $0.05 earnings per share for the current year.
A number of large investors have recently made changes to their positions in TLGT. Summit Creek Advisors LLC boosted its stake in shares of Teligent by 6.7% in the first quarter. Summit Creek Advisors LLC now owns 890,119 shares of the company’s stock valued at $4,362,000 after buying an additional 55,953 shares in the last quarter. Sanders Morris Harris Inc. purchased a new position in Teligent during the first quarter worth $8,312,000. Mckinley Capital Management LLC Delaware boosted its position in Teligent by 103.6% in the first quarter. Mckinley Capital Management LLC Delaware now owns 553,671 shares of the company’s stock worth $2,713,000 after buying an additional 281,797 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Teligent by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,089,327 shares of the company’s stock worth $5,338,000 after buying an additional 6,112 shares during the period. Finally, Menta Capital LLC boosted its position in Teligent by 51.2% in the first quarter. Menta Capital LLC now owns 67,705 shares of the company’s stock worth $332,000 after buying an additional 22,920 shares during the period. Institutional investors own 69.62% of the company’s stock.
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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