Collins Stewart Initiates Coverage on Sagent Pharmaceuticals
A report from Collins Stewart initiates coverage on Sagent Pharmaceuticals (NASDAQ: SGNT) with a Buy rating and $25 price target.
The report states, “We estimate the launch of critical shortage drugs could potentially add $225MM+ in sales and contribute $1.80+ in EPS annually for SGNT… SGNT's CEO, Jeff Yordon, has a demonstrated record of success. He has held leadership roles at nearly every generic injectable drug company in the industry. His deep knowledge of the generic injectable drug business and breadth of industry contacts gives us confidence that he can grow SGNT to be a leading generic injectables company.”
SGNT closed yesterday at $21.12.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.