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UPDATE: Piper Jaffray Upgrades Sagent Pharmaceuticals to Overweight on Turnaround Outlook

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Piper Jaffray upgraded Sagent Pharmaceuticals (NASDAQ: SGNT) from Neutral to Overweight and raised the price target from $15.00 to $22.00.

Piper Jaffray commented, "We believe that management, on its 4Q12 call yesterday, set an achievable and even beatable 2013 guidance bar (4Q12 revenues of $53M are nearly annualizing to the low end of the 2013 top line range of $220M-$250M). More importantly, we now have greater visibility on the emergence of sustainable cash flow generation, with a more brisk pace of generic launches and a maturing abbreviated NDA (aNDA) pipeline that consists of more shots-on-goal with better economics. With SGNT trading at an EV/sales of only near 1.3x our 2014 estimate of $310M and the company on the cusp of positive cash flows, we believe it is time to start buying SGNT."

Sagent Pharmaceuticals closed at $16.36 on Thursday.

Latest Ratings for SGNT

Aug 2015RBC CapitalUpgradesSector PerformOutperform
Jun 2015Raymond JamesInitiates Coverage onStrong Buy
Apr 2015Deutsche BankInitiates Coverage onBuy

View More Analyst Ratings for SGNT
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Upgrades Analyst Ratings


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