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

Zacks Investment Research downgraded shares of Teligent (NASDAQ:TLGT) from a hold rating to a sell rating in a research report sent to investors on Tuesday, 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 upgraded shares of Teligent from a hold rating to a buy rating in a research report on Wednesday, September 4th.

Shares of TLGT stock opened at $0.97 on Tuesday. The company has a market capitalization of $52.23 million, a price-to-earnings ratio of -2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 23.23, a quick ratio of 0.86 and a current ratio of 1.61. The company has a 50-day simple moving average of $0.81 and a 200 day simple moving average of $0.86. Teligent has a 52 week low of $0.42 and a 52 week high of $4.00.

Teligent (NASDAQ:TLGT) last announced its earnings results on Monday, August 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $18.34 million for 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 forecast that Teligent will post -0.18 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in TLGT. Sanders Morris Harris LLC boosted its stake in shares of Teligent by 81.7% in 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 raised its holdings in shares of Teligent by 113.3% in the second 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. Paloma Partners Management Co purchased a new stake in shares of Teligent in the second quarter valued at about $120,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Teligent in the second quarter valued at about $101,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Teligent in the second quarter valued at about $47,000. Institutional investors and hedge funds own 55.31% of the company’s stock.

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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