Lannett (LCI) Given a $25.00 Price Target by Roth Capital Analysts
Lannett (NYSE:LCI) received a $25.00 price objective from equities researchers at Roth Capital in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Roth Capital’s price target points to a potential upside of 38.50% from the company’s current price.
Several other equities analysts have also issued reports on LCI. ValuEngine lowered Lannett from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Oppenheimer restated a “hold” rating on shares of Lannett in a research report on Wednesday. BMO Capital Markets decreased their target price on Lannett from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday. Goldman Sachs Group assumed coverage on Lannett in a research report on Wednesday, January 24th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Zacks Investment Research lowered Lannett from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.67.
Lannett (NYSE:LCI) opened at $18.05 on Wednesday. The stock has a market capitalization of $680.48, a PE ratio of 14.21, a PEG ratio of 1.26 and a beta of 2.51. Lannett has a 12-month low of $14.90 and a 12-month high of $30.35. The company has a current ratio of 2.52, a quick ratio of 1.90 and a debt-to-equity ratio of 1.44.
In related news, CEO Arthur P. Bedrosian sold 42,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $25.50, for a total value of $1,071,000.00. Following the completion of the transaction, the chief executive officer now directly owns 636,616 shares in the company, valued at approximately $16,233,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arthur P. Bedrosian sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $26.75, for a total value of $1,337,500.00. Following the completion of the transaction, the chief executive officer now owns 636,616 shares of the company’s stock, valued at $17,029,478. The disclosure for this sale can be found here. Insiders sold a total of 122,578 shares of company stock valued at $3,243,757 over the last quarter. 14.72% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of LCI. Neuberger Berman Group LLC acquired a new position in shares of Lannett in the 3rd quarter valued at approximately $188,000. Municipal Employees Retirement System of Michigan grew its position in shares of Lannett by 59.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,040 shares of the company’s stock valued at $204,000 after purchasing an additional 4,100 shares during the period. Hartford Investment Management Co. bought a new stake in Lannett in the 3rd quarter valued at approximately $212,000. Teacher Retirement System of Texas bought a new stake in Lannett in the 4th quarter valued at approximately $223,000. Finally, Unison Advisors LLC bought a new stake in Lannett in the 4th quarter valued at approximately $273,000. Institutional investors and hedge funds own 99.69% of the company’s stock.
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Lannett Company Profile
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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