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UPDATE: Morgan Stanley Cuts PT to $27 on Sagent Pharmaceuticals; Progress Amid Soft Q1

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Sagent Pharmaceuticals Initiates a Nationwide Voluntary Recall of Fluconazole Injection, USP, (in 0.9% Sodium Chloride) 200mg Per 100mL Due to the Discovery of an Out of Specification Impurity

Morgan Stanley lowers its price from $28 to $27 on Overweight-rated Sagent Pharmaceuticals (NASDAQ: SGNT) following Q1 results coming in below expectations.

Morgan Stanley notes, "1Q12 revenue was below expectations, but positive pipeline and contracting updates support our long-term thesis of a broadening and profitable base driving revenue growth and margin leverage in an injectables market with attractive fundamentals."

SGNT closed at $16.88 on Friday.

Latest Ratings for SGNT

DateFirmActionFromTo
Jun 2016JefferiesMaintainsHold
Jan 2016Deutsche BankMaintainsBuy
Jan 2016JP MorganInitiates Coverage onNeutral

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Posted-In: Morgan StanleyAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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