UPDATE: Morgan Stanley Cuts PT to $27 on Sagent Pharmaceuticals; Progress Amid Soft Q1
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
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.