Lannett Co. (NYSE:LCI)‘s stock had its “hold” rating reissued by equities researchers at Deutsche Bank AG in a research note issued to investors on Tuesday. They currently have a $26.00 price target on the stock, down from their previous price target of $32.00. Deutsche Bank AG’s price target indicates a potential upside of 20.09% from the company’s previous close.
Several other brokerages also recently commented on LCI. TheStreet raised shares of Lannett from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a report on Thursday, August 25th. Raymond James Financial Inc. raised their price target on shares of Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 24th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.36.
Shares of Lannett (NYSE:LCI) traded up 2.08% during mid-day trading on Tuesday, hitting $22.10. 829,821 shares of the company traded hands. The firm’s 50 day moving average price is $29.40 and its 200-day moving average price is $25.95. The stock has a market capitalization of $815.31 million, a PE ratio of 18.42 and a beta of 1.93. Lannett has a 1-year low of $16.91 and a 1-year high of $49.44.
Lannett (NYSE:LCI) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The company earned $168.90 million during the quarter, compared to the consensus estimate of $161.55 million. Lannett had a net margin of 7.91% and a return on equity of 23.75%. Lannett’s revenue for the quarter was up 70.1% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. On average, equities research analysts forecast that Lannett will post $3.39 EPS for the current year.
In related news, Director James M. Maher sold 1,478 shares of Lannett stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $33.91, for a total value of $50,118.98. Following the transaction, the director now owns 20,320 shares in the company, valued at approximately $689,051.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider G. Michael Landis sold 6,786 shares of Lannett stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $33.41, for a total transaction of $226,720.26. Following the completion of the transaction, the insider now owns 4,580 shares in the company, valued at approximately $153,017.80. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of LCI. Louisiana State Employees Retirement System boosted its position in shares of Lannett by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the company’s stock worth $295,000 after buying an additional 100 shares during the last quarter. TFS Capital LLC boosted its position in shares of Lannett by 0.9% in the second quarter. TFS Capital LLC now owns 20,535 shares of the company’s stock worth $489,000 after buying an additional 179 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Lannett by 1.4% in the second quarter. Arizona State Retirement System now owns 14,462 shares of the company’s stock worth $344,000 after buying an additional 200 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Lannett by 3.1% in the second quarter. UBS Asset Management Americas Inc. now owns 13,500 shares of the company’s stock worth $321,000 after buying an additional 400 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Lannett by 2.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 19,554 shares of the company’s stock worth $465,000 after buying an additional 546 shares during the last quarter. Institutional investors own 78.88% of the company’s stock.
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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