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

Several other analysts also recently commented on the stock. Deutsche Bank AG restated a hold rating and set a $9.00 price objective (up from $8.00) on shares of Teligent in a research report on Monday, July 17th. Canaccord Genuity began coverage on shares of Teligent in a research note on Monday, July 31st. They set a buy rating and a $11.00 target price for the company. BidaskClub cut shares of Teligent from a sell rating to a strong sell rating in a research note on Tuesday, August 1st. ValuEngine cut shares of Teligent from a hold rating to a sell rating in a research note on Tuesday, July 25th. Finally, TheStreet cut shares of Teligent from a c- rating to a d+ rating in a research note on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Teligent currently has an average rating of Hold and a consensus target price of $7.33.

Shares of Teligent (TLGT) traded up $0.62 during mid-day trading on Friday, hitting $3.74. 2,751,000 shares of the stock traded hands, compared to its average volume of 899,554. Teligent has a 12-month low of $2.82 and a 12-month 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 data on Monday, November 6th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07). The firm had revenue of $13.65 million for the quarter, compared to the consensus estimate of $19.12 million. Teligent had a negative net margin of 16.95% and a negative return on equity of 6.38%. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 earnings per share. equities analysts forecast that Teligent will post -0.13 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in TLGT. Janus Henderson Group PLC bought a new stake in Teligent during the 2nd quarter valued at about $51,431,000. Stifel Financial Corp bought a new stake in Teligent during the 2nd quarter valued at about $6,876,000. FMR LLC bought a new stake in Teligent during the 2nd quarter valued at about $6,543,000. Russell Investments Group Ltd. lifted its holdings in Teligent by 124.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,043,046 shares of the company’s stock valued at $9,544,000 after buying an additional 577,635 shares in the last quarter. Finally, RK Capital Management LLC bought a new stake in Teligent during the 2nd quarter valued at about $4,581,000. Institutional investors own 66.44% of the company’s stock.

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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