Lannett Co. (LCI) Trading Up 2.4%
Lannett Co. (NYSE:LCI) was up 2.4% during trading on Monday . The stock traded as high as $32.10 and last traded at $31.35, with a volume of 390,904 shares. The stock had previously closed at $30.63.
Several equities research analysts have recently commented on LCI shares. Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, July 13th. Deutsche Bank AG started coverage on shares of Lannett in a research report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target for the company. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Lannett in a research report on Saturday, May 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.36.
The stock has a market cap of $1.15 billion and a price-to-earnings ratio of 15.64. The firm has a 50-day moving average of $29.70 and a 200-day moving average of $23.93.
In other news, VP Robert Ehlinger sold 62,859 shares of the stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $25.40, for a total value of $1,596,618.60. Following the completion of the transaction, the vice president now owns 56,268 shares of the company’s stock, valued at $1,429,207.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and institutional investors recently bought and sold shares of LCI. 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 period. 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 period. 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 period. Finally, Rhumbline Advisers boosted its position in 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 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.
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