ValuEngine lowered shares of Lannett (NYSE:LCI) from a hold rating to a sell rating in a research note published on Tuesday, ValuEngine reports.

Other equities analysts have also recently issued research reports about the stock. SunTrust Banks assumed coverage on shares of Lannett in a research note on Tuesday, March 19th. They set a hold rating and a $9.00 target price on the stock. Zacks Investment Research upgraded shares of Lannett from a hold rating to a strong-buy rating and set a $9.75 target price on the stock in a research note on Saturday, February 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $19.45.

LCI stock traded up $0.12 during trading on Tuesday, hitting $7.15. 1,037,242 shares of the stock traded hands, compared to its average volume of 1,476,029. Lannett has a 1 year low of $3.33 and a 1 year high of $17.50. The company has a market capitalization of $280.90 million, a price-to-earnings ratio of 2.31 and a beta of 2.45. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.88 and a current ratio of 2.44.

Lannett (NYSE:LCI) last posted its earnings results on Wednesday, February 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.18. The business had revenue of $193.70 million for the quarter, compared to analysts’ expectations of $162.51 million. Lannett had a negative net margin of 39.44% and a positive return on equity of 22.88%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. As a group, research analysts predict that Lannett will post 2.14 earnings per share for the current fiscal year.

In other Lannett news, Director Patrick G. Lepore acquired 25,000 shares of the stock in a transaction dated Tuesday, February 12th. The shares were purchased at an average price of $8.93 per share, for a total transaction of $223,250.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy C. Crew acquired 4,000 shares of the stock in a transaction dated Monday, February 11th. The stock was acquired at an average price of $8.48 per share, for a total transaction of $33,920.00. Following the purchase, the chief executive officer now directly owns 45,988 shares in the company, valued at $389,978.24. The disclosure for this purchase can be found here. 12.57% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Lannett by 16.8% in the 4th quarter. Geode Capital Management LLC now owns 326,530 shares of the company’s stock worth $1,619,000 after purchasing an additional 46,906 shares during the period. Norges Bank bought a new stake in Lannett during the 4th quarter worth approximately $354,000. Municipal Employees Retirement System of Michigan bought a new stake in Lannett during the 4th quarter worth approximately $342,000. Bank of America Corp DE raised its stake in Lannett by 37.5% during the 4th quarter. Bank of America Corp DE now owns 85,723 shares of the company’s stock worth $426,000 after acquiring an additional 23,393 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in Lannett during the 4th quarter worth approximately $456,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

About Lannett

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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Analyst Recommendations for Lannett (NYSE:LCI)

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