Lannett Company, Inc. (NYSE:LCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, May 4th.
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. “
Several other research firms have also weighed in on LCI. Robert W. Baird restated an “outperform” rating and set a $18.00 price target on shares of Lannett Company in a report on Wednesday, May 3rd. Roth Capital set a $27.00 target price on Lannett Company and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Lannett Company in a research note on Tuesday, May 2nd. Finally, BMO Capital Markets initiated coverage on Lannett Company in a research report on Monday, May 1st. They set a “market perform” rating and a $29.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.33.
Shares of Lannett Company (NYSE:LCI) traded up 0.50% during trading on Thursday, hitting $19.95. 370,468 shares of the stock traded hands. Lannett Company has a 1-year low of $16.75 and a 1-year high of $39.99. The company’s market cap is $742.74 million. The stock has a 50-day moving average of $23.47 and a 200 day moving average of $22.29.
Lannett Company (NYSE:LCI) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.10. Lannett Company had a positive return on equity of 21.95% and a negative net margin of 3.48%. The firm had revenue of $165.72 million for the quarter, compared to analysts’ expectations of $170.28 million. On average, equities research analysts predict that Lannett Company will post $3.21 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCI. Bank of Montreal Can boosted its position in Lannett Company by 1,774.8% in the third quarter. Bank of Montreal Can now owns 49,570 shares of the company’s stock valued at $1,317,000 after buying an additional 46,926 shares in the last quarter. Acadian Asset Management LLC increased its stake in Lannett Company by 5,853.3% in the third quarter. Acadian Asset Management LLC now owns 11,728 shares of the company’s stock valued at $313,000 after buying an additional 11,531 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Lannett Company by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 409,045 shares of the company’s stock worth $10,869,000 after buying an additional 16,037 shares during the period. JPMorgan Chase & Co. increased its position in shares of Lannett Company by 13,749.1% in the third quarter. JPMorgan Chase & Co. now owns 36,700 shares of the company’s stock worth $975,000 after buying an additional 36,435 shares during the period. Finally, BlackRock Investment Management LLC increased its position in Lannett Company by 0.9% in the third quarter. BlackRock Investment Management LLC now owns 127,345 shares of the company’s stock valued at $3,384,000 after buying an additional 1,170 shares during the last quarter. 80.82% of the stock is owned by institutional investors and hedge funds.
Lannett Company 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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