Lannett Co. (NYSE:LCI) has been given a $34.00 target price by equities researchers at Roth Capital in a research report issued to clients and investors on Sunday. The firm presently has a “buy” rating on the stock. Roth Capital’s target price would indicate a potential upside of 48.47% from the company’s current price.
Several other equities analysts also recently commented on LCI. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Wednesday, July 13th. Raymond James Financial Inc. upped their price objective on shares of Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 24th. TheStreet raised shares of Lannett from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $26.00 price objective (down from $32.00) on shares of Lannett in a research note on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.29.
Shares of Lannett (NYSE:LCI) traded up 6.02% during trading on Friday, reaching $22.90. 593,102 shares of the company traded hands. The firm’s 50 day moving average is $22.25 and its 200-day moving average is $26.43. The stock’s market capitalization is $847.32 million. Lannett has a 12-month low of $16.75 and a 12-month high of $44.49.
Lannett (NYSE:LCI) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm earned $161.60 million during the quarter, compared to the consensus estimate of $166.72 million. Lannett had a negative net margin of 2.87% and a positive return on equity of 21.98%. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Lannett will post $3.36 earnings per share for the current fiscal year.
In other Lannett news, Director James M. Maher sold 1,478 shares of the company’s 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 sale, the director now owns 20,320 shares in the company, valued at $689,051.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider G. Michael Landis sold 4,334 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $32.30, for a total transaction of $139,988.20. Following the completion of the sale, the insider now owns 6,461 shares in the company, valued at approximately $208,690.30. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in LCI. Acrospire Investment Management LLC acquired a new stake in shares of Lannett during the first quarter worth $105,000. Legal & General Group Plc boosted its stake in shares of Lannett by 4.4% in the first quarter. Legal & General Group Plc now owns 6,620 shares of the company’s stock worth $117,000 after buying an additional 282 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Lannett during the second quarter worth $130,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Lannett by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,200 shares of the company’s stock worth $165,000 after buying an additional 100 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Lannett by 277.7% in the second quarter. BlackRock Inc. now owns 7,517 shares of the company’s stock worth $179,000 after buying an additional 5,527 shares during the period. Institutional investors and hedge funds own 82.56% of the company’s stock.