Lannett Co. (NYSE:LCI)’s share price dropped 1.9% 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.

LCI has been the subject of several recent research reports. Zacks Investment Research raised Lannett from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, July 13th. Deutsche Bank AG initiated coverage on Lannett in a research report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target for the company. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.36.

The firm has a market cap of $1.15 billion and a price-to-earnings ratio of 15.61. The stock has a 50 day moving average of $28.65 and a 200-day moving average of $23.81.

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.

Other hedge funds and institutional investors recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of 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 period. Bank of Montreal Can increased its stake in shares of Lannett by 37.2% in the fourth quarter. Bank of Montreal Can now owns 380,775 shares of the company’s stock valued at $15,277,000 after buying an additional 103,322 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of 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 period. New York State Common Retirement Fund increased its stake in shares of 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 period. Finally, Rhumbline Advisers increased its stake in shares of 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 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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