Lannett (LCI) Price Target Lowered to $8.00 at BMO Capital Markets
Lannett (NYSE:LCI) had its price objective lowered by stock analysts at BMO Capital Markets from $19.00 to $8.00 in a research note issued on Monday, The Fly reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 46.79% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Roth Capital cut shares of Lannett from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $23.00 to $27.50 in a research report on Monday. Oppenheimer restated a “hold” rating on shares of Lannett in a research report on Wednesday, May 9th. Craig Hallum cut shares of Lannett from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research cut shares of Lannett from a “hold” rating to a “sell” rating in a research report on Thursday, May 10th. Finally, Raymond James downgraded shares of Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a report on Monday. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Lannett has an average rating of “Hold” and an average target price of $24.10.
LCI traded up $0.10 during midday trading on Monday, reaching $5.45. 24,220 shares of the company’s stock were exchanged, compared to its average volume of 531,166. The company has a current ratio of 2.56, a quick ratio of 1.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $513.19 million, a P/E ratio of 1.96 and a beta of 2.44. Lannett has a 1-year low of $5.30 and a 1-year high of $30.35.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in shares of Lannett by 5.3% during the first quarter. Rhumbline Advisers now owns 75,111 shares of the company’s stock worth $1,206,000 after buying an additional 3,782 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Lannett by 8.2% during the first quarter. New York State Teachers Retirement System now owns 50,293 shares of the company’s stock worth $807,000 after buying an additional 3,800 shares in the last quarter. Affinity Investment Advisors LLC grew its holdings in shares of Lannett by 16.1% during the second quarter. Affinity Investment Advisors LLC now owns 29,501 shares of the company’s stock worth $401,000 after buying an additional 4,092 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Lannett by 8.7% during the second quarter. Alps Advisors Inc. now owns 55,166 shares of the company’s stock worth $750,000 after buying an additional 4,409 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Lannett by 17.4% in the second quarter. First Trust Advisors LP now owns 34,463 shares of the company’s stock valued at $469,000 after purchasing an additional 5,099 shares during the period.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.
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