Lannett Co. (LCI) Trading Up 10.8%
Lannett Co. (NYSE:LCI)’s share price was up 10.8% during trading on Monday . The company traded as high as $27.64 and last traded at $27.25, with a volume of 1,202,428 shares trading hands. The stock had previously closed at $24.59.
A number of equities analysts recently commented on LCI shares. Zacks Investment Research lowered Lannett from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 30th. Canaccord Genuity lowered Lannett from a “buy” rating to a “sell” rating and dropped their price target for the company from $28.00 to $18.00 in a research note on Thursday, March 24th. Deutsche Bank AG initiated coverage on Lannett in a research note on Wednesday, June 29th. They issued a “hold” rating and a $26.00 price objective for the company. Roth Capital lowered their price objective on Lannett from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, March 24th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett in a research note on Thursday, March 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $29.93.
The firm has a market cap of $1.02 billion and a PE ratio of 13.80. The firm has a 50 day moving average of $24.29 and a 200 day moving average of $24.77.
Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.12. The business earned $163.70 million during the quarter, compared to analysts’ expectations of $160.49 million. During the same quarter in the prior year, the firm earned $0.97 EPS. Lannett’s revenue for the quarter was up 64.7% on a year-over-year basis. Analysts anticipate that Lannett Co. will post $3.27 EPS for the current year.
In other Lannett news, VP Robert Ehlinger sold 62,859 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $25.40, for a total transaction of $1,596,618.60. Following the completion of the sale, the vice president now directly owns 56,268 shares in the company, valued at approximately $1,429,207.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Other large investors have recently bought and sold shares of the company. Comerica Bank raised its stake in Lannett by 0.6% in the fourth quarter. Comerica Bank now owns 28,382 shares of the company’s stock valued at $1,021,000 after buying an additional 157 shares during the period. Rhumbline Advisers raised its stake 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 period. TD Asset Management Inc. purchased a new stake in Lannett during the fourth quarter valued at approximately $1,416,000. State Board of Administration of Florida Retirement System raised its stake in Lannett by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 38,730 shares of the company’s stock valued at $1,554,000 after buying an additional 936 shares during the period. Finally, Deere & Co. raised its stake in Lannett by 39.1% in the fourth quarter. Deere & Co. now owns 46,818 shares of the company’s stock valued at $1,878,000 after buying an additional 13,153 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.
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 MarketBeat.com's FREE daily email newsletter.