Lannett Co. (NYSE:LCI) shares were down 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 trading hands. The stock had previously closed at $36.75.

A number of research analysts have commented on LCI shares. Deutsche Bank AG started coverage on shares of Lannett in a research note on Wednesday, June 29th. They set a “hold” rating and a $26.00 price objective on the stock. Raymond James Financial Inc. increased their price objective on shares of Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Lannett from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th. Finally, TheStreet upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $31.36.

The firm has a market cap of $1.25 billion and a P/E ratio of 28.52. The stock has a 50-day moving average price of $30.82 and a 200-day moving average price of $24.25.

Lannett (NYSE:LCI) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.14. During the same period in the prior year, the business earned $0.91 EPS. The firm earned $168.90 million during the quarter, compared to the consensus estimate of $161.55 million. The company’s revenue for the quarter was up 70.1% compared to the same quarter last year. Analysts anticipate that Lannett Co. will post $3.13 earnings per share for the current year.

In other news, VP Robert Ehlinger sold 37,141 shares of Lannett stock in a transaction that occurred 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 owns 40,104 shares of the company’s stock, valued at $1,005,006.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

A hedge fund recently raised its stake in Lannett stock. Bank of Montreal Can boosted its position in shares of Lannett Co. (NYSE:LCI) by 37.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,775 shares of the company’s stock after buying an additional 103,322 shares during the period. Bank of Montreal Can owned 1.04% of Lannett worth $15,277,000 as of its most recent SEC filing.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.