Shares of Lannett Company, Inc. (NYSE:LCI) gapped down prior to trading on Monday . The stock had previously closed at $14.33, but opened at $13.95. Lannett shares last traded at $13.44, with a volume of 2,439,801 shares trading hands.

A number of equities research analysts recently issued reports on LCI shares. Zacks Investment Research raised Lannett from a “hold” rating to a “strong-buy” rating and set a $9.25 target price on the stock in a research note on Friday, August 30th. SunTrust Banks upped their target price on Lannett to $10.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Roth Capital reaffirmed a “neutral” rating on shares of Lannett in a research note on Wednesday, August 28th. Finally, ValuEngine raised Lannett from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.63.

The company has a current ratio of 2.67, a quick ratio of 1.86 and a debt-to-equity ratio of 1.98. The business has a 50 day moving average of $8.58 and a 200-day moving average of $7.25. The stock has a market cap of $544.76 million, a PE ratio of 5.72 and a beta of 2.19.

Lannett (NYSE:LCI) last posted its earnings results on Tuesday, August 27th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. Lannett had a positive return on equity of 28.00% and a negative net margin of 41.52%. The firm had revenue of $133.80 million for the quarter, compared to analyst estimates of $120.28 million. During the same quarter in the prior year, the company earned $0.64 EPS. Lannett’s revenue was down 21.7% on a year-over-year basis. On average, equities research analysts anticipate that Lannett Company, Inc. will post 1.18 EPS for the current fiscal year.

In other Lannett news, Director Albert Paonessa III sold 16,195 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $12.54, for a total transaction of $203,085.30. Following the transaction, the director now owns 45,945 shares of the company’s stock, valued at approximately $576,150.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrick G. Lepore purchased 25,000 shares of Lannett stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $9.82 per share, for a total transaction of $245,500.00. Following the purchase, the director now owns 201,340 shares in the company, valued at $1,977,158.80. The disclosure for this purchase can be found here. Corporate insiders own 12.57% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Comerica Bank lifted its stake in shares of Lannett by 5.4% during the 1st quarter. Comerica Bank now owns 34,003 shares of the company’s stock worth $285,000 after purchasing an additional 1,754 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Lannett by 8.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 22,820 shares of the company’s stock worth $138,000 after purchasing an additional 1,780 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Lannett by 105.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock worth $55,000 after purchasing an additional 3,615 shares during the period. Rhumbline Advisers lifted its stake in shares of Lannett by 4.7% during the 1st quarter. Rhumbline Advisers now owns 105,737 shares of the company’s stock worth $832,000 after purchasing an additional 4,751 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Lannett by 2.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 283,420 shares of the company’s stock worth $1,718,000 after purchasing an additional 6,347 shares during the period. 98.46% of the stock is currently owned by institutional investors.

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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