Lannett Co. (NYSE:LCI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $30.16, but opened at $30.33. Lannett shares last traded at $30.76, with a volume of 705,966 shares trading hands.

LCI has been the topic of several research reports. Deutsche Bank AG initiated coverage on Lannett in a research note on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded Lannett from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Friday, July 1st. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a research note on Monday, May 2nd. Susquehanna dropped their price objective on Lannett from $37.00 to $30.00 in a research report on Friday, March 25th. Finally, Craig Hallum dropped their price objective on Lannett to $35.00 and set a “buy” rating on the stock in a research report on Friday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.36.

The firm has a market capitalization of $1.13 billion and a price-to-earnings ratio of 15.27. The firm has a 50 day moving average of $25.78 and a 200 day moving average of $24.15.

Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.12. During the same period last year, the company earned $0.97 EPS. The business earned $163.70 million during the quarter, compared to analyst estimates of $160.49 million. The business’s revenue for the quarter was up 64.7% on a year-over-year basis. On average, analysts forecast that Lannett Co. will post $3.27 EPS for the current year.

In other news, VP Robert Ehlinger sold 62,859 shares of the company’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $25.40, for a total value of $1,596,618.60. Following the transaction, the vice president now owns 56,268 shares of the company’s stock, valued at approximately $1,429,207.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Several institutional investors have made changes to their positions in LCI. Comerica Bank raised its position in shares of Lannett by 0.6% in the fourth quarter. Comerica Bank now owns 28,382 shares of the company’s stock valued at $1,021,000 after buying an additional 157 shares during the period. California State Teachers Retirement System increased its stake in Lannett by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 49,119 shares of the company’s stock valued at $1,971,000 after buying an additional 775 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake 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 valued at $1,554,000 after buying an additional 936 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Lannett by 1.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 92,730 shares of the company’s stock valued at $3,720,000 after buying an additional 1,260 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Lannett by 5.2% in the fourth quarter. Rhumbline Advisers now owns 34,532 shares of the company’s stock valued at $1,385,000 after buying an additional 1,710 shares in the last quarter.

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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