Lannett Co. (NYSE:LCI) Receives $29.92 Average PT from Analysts
Shares of Lannett Co. (NYSE:LCI) have received a consensus rating of “Hold” from the nine brokerages that are currently covering the stock. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $29.92.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Lannett from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett in a research report on Tuesday, July 12th. Deutsche Bank AG assumed coverage on Lannett in a research report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target on the stock. Raymond James Financial Inc. upped their price target on Lannett from $31.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. Finally, TheStreet raised Lannett from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd.
In other Lannett news, Director James M. Maher sold 1,478 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $33.91, for a total value of $50,118.98. Following the sale, the director now directly owns 20,320 shares of the company’s stock, valued at $689,051.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider G. Michael Landis sold 4,334 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $32.30, for a total transaction of $139,988.20. Following the completion of the sale, the insider now directly owns 6,461 shares in the company, valued at $208,690.30. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of LCI. Telemus Capital LLC raised its stake in Lannett by 26.9% in the second quarter. Telemus Capital LLC now owns 5,854,310 shares of the company’s stock valued at $139,274,000 after buying an additional 1,242,237 shares during the last quarter. Deerfield Management Co. acquired a new stake in Lannett during the second quarter valued at approximately $21,306,000. Snow Capital Management LP raised its stake in Lannett by 262.0% in the second quarter. Snow Capital Management LP now owns 630,165 shares of the company’s stock valued at $14,992,000 after buying an additional 456,100 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Lannett during the second quarter valued at approximately $10,382,000. Finally, Parametric Portfolio Associates LLC raised its stake in Lannett by 208.8% in the second quarter. Parametric Portfolio Associates LLC now owns 448,893 shares of the company’s stock valued at $10,679,000 after buying an additional 303,513 shares during the last quarter. 77.22% of the stock is currently owned by institutional investors.
Shares of Lannett (NYSE:LCI) opened at 25.59 on Tuesday. The stock has a market capitalization of $944.07 million, a P/E ratio of 21.32 and a beta of 1.93. The firm’s 50-day moving average price is $30.86 and its 200 day moving average price is $25.63. Lannett has a 52 week low of $16.91 and a 52 week high of $49.44.
Lannett (NYSE:LCI) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. The business had revenue of $168.90 million for the quarter, compared to the consensus estimate of $161.55 million. Lannett had a return on equity of 23.75% and a net margin of 7.91%. The business’s quarterly revenue was up 70.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. Analysts expect that Lannett will post $3.39 earnings per share for the current year.
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
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