Sagent Pharmaceuticals Inc (NASDAQ:SGNT) is now reportedly considering a sale, as they are trying to find out new ways to better benefit shareholders. In response to this news today, the stock has jumped over 17%.
Perella Weinberg Partners is working with Sagent Pharmaceuticals Inc (NASDAQ:SGNT) to find a potential company interested in a deal. While the possibility of a sale is being considered, it by far is not a sure thing.
A sale of the company might be the best thing for shareholders in that the stock has fallen quite a bit over the past year and a half. Finding a buyer might be a bit tricky, but the company certainly has some value to the right buyer.
The stock is up 17.56% or $2.33 following the news, hitting $15.6 per share. About 1.54M shares traded hands or up 276.49% from the average. SGNT has declined 44.13% since June 9, 2015 and is currently downtrending. It has underperformed the S&P500 by 36.64%.
From a total of 4 analysts covering Sagent Pharmaceuticals (NASDAQ:SGNT) stock, 2 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 50% of the ratings are positive. The highest target price is $32 while the lowest target price is $18.0. The mean of all analyst targets is $24 which is 53.85% above today’s ($15.6) stock price. Sagent Pharmaceuticals was the topic of 6 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on January 12 with a “Buy” rating. JP Morgan reinitiated SGNT stock in a recent report from January 6 with a “Neutral” rating.
The institutional sentiment decreased to 0.92 in Q2 2015. It’s down 0.83, from 1.75 in 2015Q2. The ratio dived, as 31 funds sold all their Sagent Pharmaceuticals Inc shares they owned while 43 reduced their positions. 15 funds bought stakes while 53 increased their total positions. Institutions now own 23.30 million shares which is 6.20% less than the previous share count of 24.84 million in 2015Q2.
Longwood Capital Partners Llc holds 1.62% of its total portfolio in Sagent Pharmaceuticals Inc, equating to 182,618 shares. Healthcor Management L.P. owns 1.25 million shares representing 1.08% of their total US portfolio. Moreover, Penn Capital Management Co Inc has 0.95% of their total portfolio invested in the company, equating to 1.18 million shares. The Connecticut-based Thomson Horstmann & Bryant Inc has a total of 0.87% of their portfolio invested in the stock. Piermont Capital Management Inc., a Missouri-based fund reported 140,360 shares owned.
Sagent Pharmaceuticals, Inc. , formerly Sagent Holding Co., is an injectable pharmaceutical firm that develops and sources products that the Company sells primarily in the United States. The company has a market cap of $248.34 million. Sagent focuses primarily on generic injectable pharmaceuticals. It has 19.81 P/E ratio. Sagent offers its clients 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.