Teligent (NASDAQ:TLGT) Lowered to Sell at Zacks Investment Research

Teligent (NASDAQ:TLGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

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. “

Separately, ValuEngine lowered Teligent from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd.

Shares of TLGT traded up $0.01 during trading hours on Thursday, hitting $0.69. The company had a trading volume of 905 shares, compared to its average volume of 197,460. The company has a market cap of $37.70 million, a P/E ratio of -2.09 and a beta of 1.59. The company has a debt-to-equity ratio of 23.23, a current ratio of 1.61 and a quick ratio of 0.86. Teligent has a one year low of $0.42 and a one year high of $4.52. The business’s fifty day moving average price is $0.68.

Teligent (NASDAQ:TLGT) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The company had revenue of $18.34 million during the quarter, compared to the consensus estimate of $17.58 million. Teligent had a negative return on equity of 102.17% and a negative net margin of 46.67%. Sell-side analysts predict that Teligent will post -0.18 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLGT. Sanders Morris Harris LLC grew its stake in Teligent by 81.7% during the 2nd quarter. Sanders Morris Harris LLC now owns 3,814,012 shares of the company’s stock valued at $2,404,000 after purchasing an additional 1,715,239 shares during the last quarter. First Light Asset Management LLC grew its stake in Teligent by 113.3% during the 2nd quarter. First Light Asset Management LLC now owns 3,227,003 shares of the company’s stock valued at $2,033,000 after purchasing an additional 1,713,824 shares during the last quarter. AMI Asset Management Corp grew its stake in Teligent by 0.5% during the 1st quarter. AMI Asset Management Corp now owns 2,727,695 shares of the company’s stock valued at $3,164,000 after purchasing an additional 13,403 shares during the last quarter. Geode Capital Management LLC grew its stake in Teligent by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 479,485 shares of the company’s stock valued at $656,000 after purchasing an additional 17,951 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan grew its stake in Teligent by 9.1% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 240,000 shares of the company’s stock valued at $151,000 after purchasing an additional 20,000 shares during the last quarter. 61.02% of the stock is owned by hedge funds and other institutional investors.

About Teligent

Teligent, Inc, a specialty generic pharmaceutical company, develops, manufactures, markets, and sells generic topical, branded generic, and generic injectable pharmaceutical products in the United States and Canada. It offers generic pharmaceutical products in topical, injectable, complex, and ophthalmic dosage forms.

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