Sagent Pharmaceuticals‘ (SGNT) stock jumped nearly 15% in early trading following a Reuters report saying the company is exploring a sale. The publication notes Sagent is working with investment bank Perella Weinberg Partners, which has reached out to other companies and private equity firms to solicit interest in a possible deal.
Shares of Sagent went up following the news, reaching an intraday high of $15.43 after closing at $13.27. Approximately 1.3 million shares have already changed hands, compared to the stock’s average daily volume of 409K shares.
Fundamentally, SGNT shows the following financial data:
- $46.01 million in cash in most recent quarter
- $381.49 million t-12 total assets
- $275.75 million total equity
- $318.75 million t-12 revenue
- $39.88 million annual net income
- $18.94 million free cash flow
On valuation measures, Sagent Pharmaceuticals Inc. shares have a T-12 price/sales ratio of 1.36, and a price/book for the same period of 1.59. EPS is $0.79. The name has a market cap of $242.70 million and a median Street price target of $20.00 with a high target of $28.00. Currently there are 4 analysts that rate SGNT a ‘Buy’, 5 rate it a ‘Hold’. No analyst rates it a ‘Sell’.
In terms of share statistics, Sagent has a total of 32.79 million shares outstanding, with 27.74% held by insiders and 76.80% held by institutions. The stock’s short interest currently stands at 7.75%, bringing the total number of shares sold short to 1.93 million.
Shares of Schaumburg, Illinois-based specialty pharmaceutical company are down 48.12% year-over-year, and 16.59% year-to-date.