Teligent (TLGT) Stock Price Down 5%

Teligent Inc (NASDAQ:TLGT) dropped 5% on Friday . The company traded as low as $3.51 and last traded at $3.58. Approximately 934,739 shares changed hands during mid-day trading, an increase of 113% from the average daily volume of 438,693 shares. The stock had previously closed at $3.77.

TLGT has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Teligent from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 11th. TheStreet downgraded shares of Teligent from a “c-” rating to a “d+” rating in a research report on Wednesday, November 1st. Finally, Canaccord Genuity downgraded shares of Teligent from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $5.00 in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $7.00.

The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.71 and a current ratio of 3.28.

Teligent (NASDAQ:TLGT) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). Teligent had a negative net margin of 16.95% and a negative return on equity of 6.51%. The business had revenue of $13.65 million during the quarter, compared to analyst estimates of $19.12 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. research analysts anticipate that Teligent Inc will post -0.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLGT. Voya Investment Management LLC raised its position in Teligent by 16.1% during the second quarter. Voya Investment Management LLC now owns 23,342 shares of the company’s stock valued at $214,000 after purchasing an additional 3,234 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Teligent by 85.6% during the second quarter. Parametric Portfolio Associates LLC now owns 34,549 shares of the company’s stock valued at $316,000 after purchasing an additional 15,933 shares in the last quarter. Wells Fargo & Company MN raised its position in Teligent by 52.4% during the third quarter. Wells Fargo & Company MN now owns 49,264 shares of the company’s stock valued at $331,000 after purchasing an additional 16,937 shares in the last quarter. New Jersey Better Educational Savings Trust raised its position in Teligent by 25.0% during the third quarter. New Jersey Better Educational Savings Trust now owns 50,000 shares of the company’s stock valued at $336,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Teligent by 19.2% during the second quarter. Alliancebernstein L.P. now owns 37,200 shares of the company’s stock valued at $340,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.

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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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