Lannett Co. (LCI) Sees Large Volume Increase
Lannett Co. (NYSE:LCI) saw an uptick in trading volume on Thursday . 1,112,657 shares traded hands during trading, an increase of 32% from the previous session’s volume of 840,121 shares.The stock last traded at $27.76 and had previously closed at $26.71.
Several research firms have recently issued reports on LCI. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a research note on Tuesday. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday. Deutsche Bank AG began coverage on shares of Lannett in a research note on Wednesday, June 29th. They set a “hold” rating and a $26.00 target price on the stock. Roth Capital lowered their target price on shares of Lannett from $30.00 to $27.50 and set a “buy” rating on the stock in a research note on Thursday, March 24th. Finally, Canaccord Genuity lowered shares of Lannett from a “buy” rating to a “sell” rating and lowered their target price for the stock from $28.00 to $18.00 in a research note on Thursday, March 24th. One investment 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 company has an average rating of “Hold” and a consensus price target of $30.36.
The firm has a market cap of $1.04 billion and a price-to-earnings ratio of 14.05. The firm has a 50-day moving average price of $24.84 and a 200-day moving average price of $24.50.
Lannett (NYSE:LCI) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The business earned $163.70 million during the quarter, compared to analyst estimates of $160.49 million. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. On average, equities research analysts predict that Lannett Co. will post $3.27 earnings per share for the current fiscal year.
In other Lannett news, VP Robert Ehlinger sold 37,141 shares of Lannett stock in a transaction 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 transaction, the vice president now directly owns 40,104 shares in the company, valued at $1,005,006.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
A number of hedge funds and institutional investors have bought and sold shares of the stock. Comerica Bank raised 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 in the last quarter. Rhumbline Advisers raised its position in shares of 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. purchased a new position in shares of Lannett during the fourth quarter worth about $1,416,000. State Board of Administration of Florida Retirement System raised its position in shares of 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. raised its position in shares of 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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