Needham & Company Maintains a 'Hold' on Sagent Pharmaceuticals (SGNT); Results On the Short Side of Expectations

Needham & Company maintains a 'Hold' on Sagent Pharmaceuticals (NASDAQ: SGNT).

Analyst, Elliot Wilbur, said, "After chalking up a solid mark in the win column with 4Q11 results, 1Q12 financials returned to the pattern of mixed performance seen largely over the past four periods. While the company hasn’t been able to put together a consistent string of exceeding Street expectations on the revenue and/or gross margin front, SGNT does continue to deliver impressive top line growth metrics with revenue up 26% y/y, and to build significant future value with an impressive accelerated pipeline build with total ANDA filings now standing at just under 80. With another somewhat mixed performance and numbers needing to ramp rather substantially to hit the low end of current full-year guidance, shares are unlikely to get much of a short-term lift."

Needham lowers FY12 EPS estimate from $0.29 to (0.14) and FY13 from $1.68 to $1.52.

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 $17.50 yesterday.

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