RBC Capital Cuts Price Target on Sagent Pharmaceuticals (SGNT) Following Weak Cold and Flu Season

RBC Capital maintained an Outperform rating on Sagent Pharmaceuticals (NASDAQ: SGNT), and cut the price target to $20.00 (from $28.00), following the company's 1Q earnings report. Weakness in SGNT's anti-infective business is due in part to a weak cold and flu season. This trend will likely continue into the 2Q, along with "mid-single digit price declines".

Analyst Randall Stanicky commented, "SGNT's 1Q reminded us of three things. First, how back-end weighted 2016E will be. Second, how levered the top-line growth is to new approvals. And third, how much a successful and active business development effort can move the needle and is needed. In other words, the set-up for a stock recovery is here but execution in needed to make it happen."

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 $12.16 yesterday.

You May Also Be Interested In

• Boston Scientific (BSX) PT Raised to $83 at Stifel
• Ameriprise Financial (AMP) PT Raised to $445 at Morgan Stanley
• Lockheed Martin (LMT) PT Raised to $487 at Deutsche Bank