Sagent Pharmaceuticals Inc (SGNT) is Downgraded by Raymond James to Mkt Perform

Sagent Pharmaceuticals Inc (SGNT) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Sagent Pharmaceuticals Inc. Sagent Pharmaceuticals Inc was Downgraded by Piper Jaffray to ” Neutral” on Jul 11, 2016. Shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Outperform” and Lowered the Price Target to $ 20 from a previous price target of $28 .

On the company’s financial health, Sagent Pharmaceuticals Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.00. The company had revenue of $67.80 million for the quarter, compared to analysts expectations of $74.22 million. The company’s revenue was down -17.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.04 EPS.

Sagent Pharmaceuticals Inc closed down -0.55 points or -3.43% at $15.5 with 4,85,620 shares getting traded on Friday. Post opening the session at $16.14, the shares hit an intraday low of $15.45 and an intraday high of $16.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Sagent Pharmaceuticals Inc. (Sagent) formerly Sagent Holding Co. is an injectable pharmaceutical company that develops and sources products that the Company sells primarily in the United States. Sagent focuses primarily on generic injectable pharmaceuticals. Sagent offers its customers a range of products across anti-infective oncolytic and critical care indications in a variety of presentations including single- and multi-dose vials pre-filled ready-to-use syringes medical devices and premix bags. As of October 31 2010 Sagent marketed 21 products. The Company has a 50/50 joint venture known as Sagent Strides LLC (Sagent Strides) with a subsidiary of Strides Arcolab Limited (Strides) which is an Indian manufacturer of finished pharmaceutical products.

Sagent Pharmaceuticals Inc

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