Lannett Co. (NYSE:LCI) was down 1.9% during mid-day trading on Thursday . The stock traded as low as $31.46 and last traded at $31.71, with a volume of 648,519 shares. The stock had previously closed at $32.34.

Several equities research analysts have recently issued reports on LCI shares. Zacks Investment Research upgraded Lannett from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, July 13th. Deutsche Bank AG started coverage on Lannett in a report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price objective on the stock. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.36.

The company has a market cap of $1.16 billion and a P/E ratio of 15.78. The company’s 50-day moving average is $28.47 and its 200-day moving average is $23.83.

In other Lannett news, VP Robert Ehlinger sold 37,141 shares of the company’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.06, for a total value of $930,753.46. Following the transaction, the vice president now owns 40,104 shares of the company’s stock, valued at $1,005,006.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

A number of institutional investors have recently bought and sold shares of LCI. Rhumbline Advisers boosted its position 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 during the last quarter. Mutual of America Capital Management LLC boosted its position in Lannett by 66.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 62,765 shares of the company’s stock valued at $2,518,000 after buying an additional 25,165 shares during the last quarter. New York State Common Retirement Fund boosted its position in Lannett by 32.7% in the fourth quarter. New York State Common Retirement Fund now owns 80,064 shares of the company’s stock valued at $3,212,000 after buying an additional 19,736 shares during the last quarter. Principal Financial Group Inc. boosted its position in Lannett by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 183,577 shares of the company’s stock valued at $7,365,000 after buying an additional 8,551 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Lannett by 10.6% in the fourth quarter. Wells Fargo & Company MN now owns 227,448 shares of the company’s stock valued at $9,125,000 after buying an additional 21,749 shares during 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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