Lannett Co Inc (NYSE:LCI) Sets New 52-Week Low at $16.00
Shares of Lannett Co Inc (NYSE:LCI) hit a new 52-week low on Friday . The stock traded as low as $16.00 and last traded at $16.08, with a volume of 361,432 shares. The stock had previously closed at $16.15.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Lannett Co from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lannett Co in a research note on Tuesday, May 2nd. BidaskClub cut shares of Lannett Co from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Robert W. Baird reissued an “outperform” rating and issued a $18.00 price objective on shares of Lannett Co in a research note on Wednesday, May 3rd. Finally, Roth Capital set a $27.00 price objective on shares of Lannett Co and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Lannett Co has a consensus rating of “Hold” and an average price target of $27.50.
The stock’s market cap is $597.54 million. The company’s 50 day moving average price is $20.12 and its 200 day moving average price is $21.31.
A number of large investors have recently made changes to their positions in LCI. Capital Fund Management S.A. raised its stake in shares of Lannett Co by 80.2% in the first quarter. Capital Fund Management S.A. now owns 56,677 shares of the company’s stock worth $1,267,000 after buying an additional 25,219 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Lannett Co by 167.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 83,975 shares of the company’s stock worth $1,877,000 after buying an additional 52,580 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Lannett Co during the first quarter worth about $1,536,000. LSV Asset Management raised its stake in shares of Lannett Co by 13.6% in the first quarter. LSV Asset Management now owns 1,691,935 shares of the company’s stock worth $37,814,000 after buying an additional 202,878 shares during the period. Finally, Heartland Advisors Inc. purchased a new stake in shares of Lannett Co during the first quarter worth about $11,175,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.
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Lannett Co 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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