Lannett Co. (LCI) Sees Unusually-High Trading Volume
Lannett Co. (NYSE:LCI) saw strong trading volume on Thursday . 1,112,657 shares changed hands during trading, an increase of 32% from the previous session’s volume of 840,121 shares.The stock last traded at $27.76 and had previously closed at $26.71.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Lannett from a “buy” rating to a “hold” rating in a research report on Thursday. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a research report on Tuesday. Deutsche Bank AG assumed coverage on shares of Lannett in a research report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price objective on the stock. Susquehanna lowered their price objective on shares of Lannett from $37.00 to $30.00 in a research report on Friday, March 25th. Finally, Craig Hallum lowered their price objective on shares of Lannett to $35.00 and set a “buy” rating on the stock in a research report on Friday, March 25th. One equities 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 has an average rating of “Hold” and an average target price of $30.36.
The stock has a market cap of $1.04 billion and a PE ratio of 14.15. The stock’s 50-day moving average price is $25.00 and its 200-day moving average price is $24.41.
Lannett (NYSE:LCI) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.12. During the same quarter in the previous year, the company earned $0.97 earnings per share. The firm earned $163.70 million during the quarter, compared to the consensus estimate of $160.49 million. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year. On average, equities analysts expect that Lannett Co. will post $3.27 EPS for the current fiscal year.
In other Lannett news, VP Robert Ehlinger sold 37,141 shares of the company’s 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 completion of the transaction, the vice president now directly owns 40,104 shares in the company, valued at $1,005,006.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several institutional investors have recently bought and sold shares of LCI. Comerica Bank raised its position in Lannett by 0.6% in the fourth quarter. Comerica Bank now owns 28,382 shares of the company’s stock worth $1,021,000 after buying an additional 157 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Lannett by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 49,119 shares of the company’s stock worth $1,971,000 after buying an additional 775 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of 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 worth $1,554,000 after buying an additional 936 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Lannett by 1.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 92,730 shares of the company’s stock worth $3,720,000 after buying an additional 1,260 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Lannett by 5.2% in the fourth quarter. Rhumbline Advisers now owns 34,532 shares of the company’s stock worth $1,385,000 after buying an additional 1,710 shares in 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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