Lannett Co Inc (LCI) Rating Increased to Buy at Zacks Investment Research
Lannett Co Inc (NYSE:LCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $28.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 13.36% from the company’s current price.
According to Zacks, “Lannett, Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition, the Company contract manufactures and private labels pharmaceutical products for other companies. “
Several other research analysts have also weighed in on the stock. ValuEngine raised shares of Lannett Co from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $20.00 price objective (down from $26.00) on shares of Lannett Co in a report on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lannett Co in a report on Wednesday, August 23rd. Roth Capital set a $27.00 price objective on shares of Lannett Co and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Finally, Deutsche Bank AG decreased their price objective on shares of Lannett Co from $23.00 to $19.00 and set a “hold” rating for the company in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.40.
Lannett Co (NYSE:LCI) opened at $24.70 on Friday. The firm has a market cap of $933.97, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 2.30 and a beta of 2.73. The company has a current ratio of 2.52, a quick ratio of 2.09 and a debt-to-equity ratio of 1.44. Lannett Co has a fifty-two week low of $14.90 and a fifty-two week high of $27.90.
Lannett Co (NYSE:LCI) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.08. The company had revenue of $155.00 million during the quarter, compared to analyst estimates of $153.62 million. Lannett Co had a net margin of 6.67% and a return on equity of 18.23%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. sell-side analysts predict that Lannett Co will post 2.66 earnings per share for the current year.
In other news, major shareholder David Farber sold 10,000 shares of Lannett Co stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $25.03, for a total value of $250,300.00. Following the completion of the transaction, the insider now directly owns 4,211,069 shares of the company’s stock, valued at approximately $105,403,057.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arthur P. Bedrosian sold 7,422 shares of Lannett Co stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $25.20, for a total transaction of $187,034.40. Following the completion of the transaction, the chief executive officer now directly owns 679,001 shares of the company’s stock, valued at $17,110,825.20. The disclosure for this sale can be found here. Insiders own 15.04% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LCI. BlackRock Inc. boosted its holdings in shares of Lannett Co by 52,610.9% in the 1st quarter. BlackRock Inc. now owns 3,903,766 shares of the company’s stock valued at $87,250,000 after buying an additional 3,896,360 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Lannett Co by 296.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 306,106 shares of the company’s stock valued at $5,678,000 after buying an additional 228,947 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Lannett Co by 20.5% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,010,232 shares of the company’s stock valued at $18,639,000 after buying an additional 171,751 shares during the period. Vanguard Group Inc. lifted its position in Lannett Co by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock valued at $59,198,000 after purchasing an additional 168,454 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Lannett Co by 27.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 669,298 shares of the company’s stock valued at $12,349,000 after purchasing an additional 142,278 shares during the last quarter. 87.67% of the stock is owned by institutional investors and hedge funds.
About Lannett Co
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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