Sagent Pharmaceuticals (SGNT) PT, Estimates Cut at Jefferies
Get Alerts SGNT Hot Sheet
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Jefferies analyst David Steinberg reiterated a Hold rating on Sagent Pharmaceuticals (NASDAQ: SGNT) and cut his price target to $27.00 (from $33.00), saying increasing competitive/regulatory issues point to a weaker FY15-16 outlook.
Steinberg commented, "There are now several reasons why SGNT’s pending FY15 guidance could be well below consensus. Beyond the real possibility that launch of key pipeline candidates g-Venofer and g-Nembutal will be delayed until FY16, the base business could face enhanced competition in FY15. Further, TEVA noted very recently that it plans to launch g-Venofer in FY15 and expectations were that SGNT would be alone. We thus lower our estimates."
The firm cut FY 2015 EPS from $0.70 to $0.50.
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 $25.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading
- IMCD NV (IMCD:NA) PT Raised to EUR152 at Barclays
- Canfor Pulp Products (CFX:CN) (CFPUF) PT Raised to Cdn$2.75 at Raymond James
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!