Lannett Co. (NYSE:LCI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
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. “
LCI has been the subject of several other research reports. TheStreet upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. Roth Capital set a $34.00 price target on shares of Lannett and gave the company a “buy” rating in a research report on Sunday, November 6th. Raymond James Financial Inc. upped their price target on shares of Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Lannett in a research report on Tuesday, July 12th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $26.00 price target (down previously from $32.00) on shares of Lannett in a research report on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Lannett presently has an average rating of “Hold” and a consensus target price of $32.29.
Shares of Lannett (NYSE:LCI) traded up 6.02% during mid-day trading on Tuesday, hitting $22.90. 593,102 shares of the stock traded hands. Lannett has a 12-month low of $16.75 and a 12-month high of $44.49. The firm’s market cap is $847.32 million. The firm’s 50 day moving average price is $22.25 and its 200 day moving average price is $26.43.
Lannett (NYSE:LCI) last issued its earnings results on Thursday, November 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. Lannett had a negative net margin of 2.87% and a positive return on equity of 21.98%. The business earned $161.60 million during the quarter, compared to analysts’ expectations of $166.72 million. During the same quarter in the prior year, the business posted $0.99 EPS. The company’s revenue for the quarter was up 51.8% on a year-over-year basis. On average, equities research analysts predict that Lannett will post $3.36 EPS for the current fiscal year.
In other news, Director James M. Maher sold 1,478 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $33.91, for a total value of $50,118.98. Following the completion of the transaction, the director now owns 20,320 shares in the company, valued at approximately $689,051.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider G. Michael Landis sold 6,786 shares of the stock in a transaction dated Wednesday, August 31st. The shares were 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 of the company’s stock, valued at approximately $153,017.80. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its position in shares of Lannett by 1.1% in the second quarter. Nordea Investment Management AB now owns 92,500 shares of the company’s stock worth $2,201,000 after buying an additional 1,000 shares in the last quarter. Telemus Capital LLC increased its position in shares of Lannett by 26.9% in the second quarter. Telemus Capital LLC now owns 5,854,310 shares of the company’s stock worth $139,274,000 after buying an additional 1,242,237 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Lannett during the second quarter worth about $281,000. Capstone Asset Management Co. increased its position in shares of Lannett by 16.4% in the second quarter. Capstone Asset Management Co. now owns 14,270 shares of the company’s stock worth $339,000 after buying an additional 2,010 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Lannett by 90.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,598 shares of the company’s stock worth $228,000 after buying an additional 4,565 shares in the last quarter. Institutional investors and hedge funds own 82.56% of the company’s stock.
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.