Lannett Co’s (LCI) Hold Rating Reiterated at Deutsche Bank AG
Lannett Co Inc (NYSE:LCI)‘s stock had its “hold” rating reissued by analysts at Deutsche Bank AG in a research report issued on Monday. They currently have a $23.00 price objective on the stock, up from their previous price objective of $22.00. Deutsche Bank AG’s target price would suggest a potential upside of 2.22% from the stock’s previous close.
Several other brokerages have also issued reports on LCI. Zacks Investment Research lowered Lannett Co from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Lannett Co in a research report on Thursday, June 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 target price on shares of Lannett Co in a research report on Wednesday, May 3rd. Roth Capital set a $27.00 target price on Lannett Co and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, ValuEngine lowered Lannett Co from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Lannett Co currently has a consensus rating of “Hold” and a consensus target price of $27.83.
Lannett Co (LCI) traded down 0.88% during trading on Monday, reaching $22.50. The company’s stock had a trading volume of 484,308 shares. The company’s market capitalization is $837.68 million. Lannett Co has a 12-month low of $16.75 and a 12-month high of $39.99. The firm’s 50-day moving average price is $20.02 and its 200 day moving average price is $21.78.
Lannett Co (NYSE:LCI) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.10. The company had revenue of $165.72 million during the quarter, compared to the consensus estimate of $170.28 million. Lannett Co had a positive return on equity of 22.13% and a negative net margin of 0.41%. On average, analysts predict that Lannett Co will post $3.21 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in LCI. Thrivent Financial for Lutherans raised its position in shares of Lannett Co by 4.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,570 shares of the company’s stock worth $343,000 after buying an additional 620 shares in the last quarter. FMR LLC bought a new stake in shares of Lannett Co during the fourth quarter worth approximately $7,784,000. Ameriprise Financial Inc. increased its stake in shares of Lannett Co by 8.8% in the first quarter. Ameriprise Financial Inc. now owns 747,062 shares of the company’s stock worth $16,698,000 after buying an additional 60,675 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Lannett Co by 33.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,651 shares of the company’s stock worth $417,000 after buying an additional 4,625 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Lannett Co by 13.7% in the fourth quarter. State Street Corp now owns 1,186,674 shares of the company’s stock worth $26,169,000 after buying an additional 142,616 shares during the last quarter. 95.20% of the stock is currently owned by institutional investors and hedge funds.
About Lannett Co
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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