Lannett Company, Inc. (NYSE:LCI) gapped down before the market opened 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.

LCI has been the subject of a number of recent analyst reports. SunTrust Banks lifted their price target on Lannett to $10.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. ValuEngine raised Lannett from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised Lannett from a “hold” rating to a “strong-buy” rating and set a $9.25 price target for the company in a report on Friday, August 30th. Finally, Roth Capital reissued a “neutral” rating on shares of Lannett in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Lannett currently has a consensus rating of “Hold” and an average target price 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 firm has a market capitalization of $544.76 million, a PE ratio of 5.72 and a beta of 2.19. The company has a fifty day moving average price of $8.58 and a two-hundred day moving average price of $7.25.

Lannett (NYSE:LCI) last posted its earnings results on Tuesday, August 27th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $133.80 million during the quarter, compared to the consensus estimate of $120.28 million. During the same period in the previous year, the business earned $0.64 EPS. The business’s quarterly revenue was down 21.7% on a year-over-year basis. As a group, equities research analysts predict that Lannett Company, Inc. will post 1.18 earnings per share for the current year.

In other news, Director Albert Paonessa III sold 16,195 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $12.54, for a total value of $203,085.30. Following the completion of the sale, the director now directly owns 45,945 shares of the company’s stock, valued at approximately $576,150.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick G. Lepore purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $9.82 per share, for a total transaction of $245,500.00. Following the transaction, the director now directly owns 201,340 shares in the company, valued at $1,977,158.80. The disclosure for this purchase can be found here. 12.57% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Glen Harbor Capital Management LLC acquired a new position in Lannett in the 2nd quarter valued at about $42,000. Aperio Group LLC acquired a new position in Lannett in the 2nd quarter valued at about $49,000. BNP Paribas Arbitrage SA increased its position in Lannett by 105.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock valued at $55,000 after acquiring an additional 3,615 shares during the period. Tyers Asset Management LLC acquired a new position in Lannett in the 2nd quarter valued at about $58,000. Finally, Zacks Investment Management acquired a new position in Lannett in the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.

About Lannett (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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