Lannett Co. (LCI) Trading Up 10.8%
Lannett Co. (NYSE:LCI) shares were up 10.8% during mid-day trading on Monday . The stock traded as high as $27.64 and last traded at $27.25, with a volume of 1,202,428 shares. The stock had previously closed at $24.59.
Several research analysts have issued reports on LCI shares. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett in a report on Thursday, March 24th. Deutsche Bank AG started coverage on shares of Lannett in a report on Wednesday, June 29th. They issued a “hold” rating and a $26.00 target price for the company. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Friday, July 1st. Susquehanna decreased their target price on shares of Lannett from $37.00 to $30.00 in a report on Friday, March 25th. Finally, Craig Hallum decreased their target price on shares of Lannett to $35.00 and set a “buy” rating for the company in a report on Friday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.36.
The firm’s 50-day moving average is $24.59 and its 200-day moving average is $24.46. The stock has a market capitalization of $1.01 billion and a PE ratio of 13.69.
Lannett (NYSE:LCI) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.12. The firm earned $163.70 million during the quarter, compared to analysts’ expectations of $160.49 million. The company’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts anticipate that Lannett Co. will post $3.27 earnings per share for the current year.
In other Lannett news, VP Robert Ehlinger sold 37,141 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $25.06, for a total value of $930,753.46. Following the sale, the vice president now directly owns 40,104 shares of the company’s stock, valued at approximately $1,005,006.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several hedge funds and institutional investors recently bought and sold shares of the stock. Comerica Bank increased its position in Lannett by 0.6% in the fourth quarter. Comerica Bank now owns 28,382 shares of the company’s stock worth $1,021,000 after buying an additional 157 shares during the period. Rhumbline Advisers increased its position in Lannett by 5.2% in the fourth quarter. Rhumbline Advisers now owns 34,532 shares of the company’s stock worth $1,385,000 after buying an additional 1,710 shares during the period. TD Asset Management Inc. bought a new position in Lannett during the fourth quarter worth approximately $1,416,000. State Board of Administration of Florida Retirement System increased its position in Lannett by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 38,730 shares of the company’s stock worth $1,554,000 after buying an additional 936 shares during the period. Finally, Deere & Co. increased its position in Lannett by 39.1% in the fourth quarter. Deere & Co. now owns 46,818 shares of the company’s stock worth $1,878,000 after buying an additional 13,153 shares during the period.
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company’s products include Levothyroxine Sodium tablets, Digoxin tablets, Butalbital products, Ursodiol capsules and pain management products. Levothyroxine Sodium tablets are produced and marketed with around 12 varying potencies.
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