Lannett Co. (NYSE:LCI)’s share price dropped 7.2% during trading on Thursday . The company traded as low as $33.06 and last traded at $34.10, with a volume of 2,723,669 shares. The stock had previously closed at $36.75.

A number of research firms have commented on LCI. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a report on Monday, May 2nd. Zacks Investment Research raised Lannett from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Deutsche Bank AG began coverage on Lannett in a report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target on the stock. Finally, Raymond James Financial Inc. raised their price target on Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Lannett currently has a consensus rating of “Hold” and a consensus price target of $30.07.

The stock has a market cap of $1.28 billion and a PE ratio of 17.34. The stock has a 50 day moving average of $30.29 and a 200 day moving average of $24.09.

Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.14. During the same quarter in the prior year, the business earned $0.91 EPS. The firm had revenue of $168.90 million for the quarter, compared to analyst estimates of $161.55 million. The firm’s quarterly revenue was up 70.1% on a year-over-year basis. Equities analysts anticipate that Lannett Co. will post $2.97 EPS for the current fiscal year.

In related 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 transaction of $930,753.46. Following the completion of the transaction, the vice president now owns 40,104 shares of the company’s stock, valued at approximately $1,005,006.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several institutional investors recently bought and sold shares of LCI. 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 worth $3,212,000 after buying an additional 19,736 shares during the last quarter. 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 worth $9,125,000 after buying an additional 21,749 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Lannett by 37.2% in the fourth quarter. Bank of Montreal Can now owns 380,775 shares of the company’s stock worth $15,277,000 after buying an additional 103,322 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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