Lannett Co. (LCI) Trading Up 2.4%
Lannett Co. (NYSE:LCI)’s share price 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 traded. The stock had previously closed at $30.63.
Several equities analysts have commented on LCI shares. Deutsche Bank AG started coverage on shares of Lannett in a research note on Wednesday, June 29th. They issued a “hold” rating and a $26.00 price target for the company. Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, July 1st. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a research note on Monday, May 2nd. Finally, Raymond James Financial Inc. boosted their price target on shares of Lannett from $31.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.07.
The stock has a market capitalization of $1.39 billion and a PE ratio of 18.84. The company has a 50-day moving average price of $29.95 and a 200 day moving average price of $24.00.
Lannett (NYSE:LCI) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share for the quarter, topping 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 company had revenue of $168.90 million for the quarter, compared to analysts’ expectations of $161.55 million. The business’s revenue for the quarter was up 70.1% on a year-over-year basis. Analysts expect that Lannett Co. will post $3.27 EPS for the current year.
In other Lannett news, VP Robert Ehlinger sold 37,141 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $25.06, for a total transaction 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 accessible through the SEC website.
A number of institutional investors recently bought and sold shares of LCI. Rhumbline Advisers increased 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 in the last quarter. New York State Common Retirement Fund increased its position in shares of 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 in the last quarter. Wells Fargo & Company MN increased its position in shares of 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 in the last quarter. Finally, Bank of Montreal Can increased its position in shares of 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 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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