Lannett Company, Inc. (NYSE:LCI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.59, but opened at $5.80. Lannett shares last traded at $6.04, with a volume of 44330 shares.

A number of equities analysts have recently weighed in on LCI shares. Roth Capital cut Lannett from a “buy” rating to a “neutral” rating and increased their price target for the stock from $23.00 to $27.50 in a report on Monday, August 20th. Craig Hallum cut Lannett from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Raymond James cut Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a report on Monday, August 20th. BMO Capital Markets lowered their price target on Lannett from $19.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, August 20th. Finally, Zacks Investment Research cut Lannett from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.10.

The firm has a market capitalization of $241.12 million, a price-to-earnings ratio of 1.92 and a beta of 2.01. The company has a quick ratio of 2.07, a current ratio of 2.87 and a debt-to-equity ratio of 2.44.

Lannett (NYSE:LCI) last posted its earnings results on Wednesday, November 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Lannett had a positive return on equity of 21.32% and a negative net margin of 39.74%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $145.79 million. During the same quarter in the prior year, the company earned $0.60 EPS. Lannett’s revenue was up .1% on a year-over-year basis. Analysts expect that Lannett Company, Inc. will post 2.09 EPS for the current year.

In other news, Director Patrick G. Lepore bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were purchased at an average price of $5.34 per share, with a total value of $133,500.00. Following the purchase, the director now owns 67,895 shares in the company, valued at $362,559.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 29,000 shares of company stock worth $155,220. 14.72% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of LCI. JPMorgan Chase & Co. lifted its stake in Lannett by 582.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 684,622 shares of the company’s stock worth $3,251,000 after acquiring an additional 584,343 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Lannett during the 3rd quarter worth about $2,555,000. BlackRock Inc. lifted its stake in Lannett by 9.5% during the 2nd quarter. BlackRock Inc. now owns 4,386,677 shares of the company’s stock worth $59,660,000 after acquiring an additional 381,177 shares in the last quarter. SG Americas Securities LLC acquired a new position in Lannett during the 3rd quarter worth about $998,000. Finally, Heartland Advisors Inc. lifted its stake in Lannett by 32.8% during the 2nd quarter. Heartland Advisors Inc. now owns 810,500 shares of the company’s stock worth $11,023,000 after acquiring an additional 200,000 shares in the last quarter. 88.85% of the stock is currently owned by hedge funds and other institutional investors.

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Lannett Company Profile (NYSE:LCI)

Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.

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