Sagent Pharmaceuticals (SGNT) Guidance Conservative - Jefferies

May 7, 2013 12:59 PM EDT Send to a Friend
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Price: $32.45 -0.86%

Rating Summary:
    4 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Jefferies boosted estimates and its price target on Sagent Pharmaceuticals (NASDAQ: SGNT) from $20 to $21 following strong Q1 results and what they are calling conservative guidance.

Analyst Corey Davis, Ph.D. comments, "We thought SGNT's 1st-time ’13 guidance was conservative in February, and after a very solid Q1 beat-without-raise, we continue to think so. Investors are cautious given no raise, near-term China-facility consolidation dilution, and Gx Venofer delay. That's probably fair given guidance-cuts in ’12, but we think further launches & relative GM stability/predictability rejuvenate mgmt. credibility. Also, look for increased BD activity."

The firm lifted Q2 EPS estimates from ($0.02) to $0.02, FY EPS estimates 2013 from $0.08 to $0.41 and FY EPS estimates 2014 from $0.75 to $0.80.

For an analyst ratings summary and ratings history on Sagent Pharmaceuticals click here. For more ratings news on Sagent Pharmaceuticals click here.

Shares of Sagent Pharmaceuticals closed at $16.12 yesterday.


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