Lannett Company, Inc. (NYSE:LCI)’s share price traded up 8.5% during trading on Monday . The stock traded as high as $29.50 and last traded at $28.70. 1,942,000 shares were traded during mid-day trading, an increase of 143% from the average session volume of 800,631 shares. The stock had previously closed at $26.45.
Several equities analysts have commented on the company. ValuEngine upgraded Lannett from a “hold” rating to a “buy” rating in a research report on Saturday, November 25th. Zacks Investment Research downgraded Lannett from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. BMO Capital Markets increased their target price on Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, November 13th. Oppenheimer restated a “hold” rating on shares of Lannett in a research report on Wednesday, August 23rd. Finally, Roth Capital set a $27.00 price objective on Lannett and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.80.
The company has a debt-to-equity ratio of 1.44, a current ratio of 2.52 and a quick ratio of 1.90. The firm has a market capitalization of $1,075.40, a PE ratio of 10.61, a PEG ratio of 2.39 and a beta of 2.85.
In other Lannett news, CEO Arthur P. Bedrosian sold 7,422 shares of Lannett stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total value of $187,034.40. Following the completion of the sale, the chief executive officer now directly owns 679,001 shares in the company, valued at $17,110,825.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David Farber sold 10,000 shares of Lannett stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $25.03, for a total value of $250,300.00. Following the completion of the sale, the insider now owns 4,211,069 shares of the company’s stock, valued at $105,403,057.07. The disclosure for this sale can be found here. Insiders have sold 120,000 shares of company stock valued at $3,130,501 over the last 90 days. 15.04% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Arizona State Retirement System increased its holdings in Lannett by 0.7% in the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after purchasing an additional 100 shares in the last quarter. CS Mckee LP increased its holdings in Lannett by 0.6% in the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after purchasing an additional 200 shares in the last quarter. Texas Permanent School Fund increased its holdings in Lannett by 1.0% in the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after purchasing an additional 203 shares in the last quarter. Rhumbline Advisers increased its holdings in Lannett by 0.4% in the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after purchasing an additional 244 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Lannett by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 97.27% of the company’s stock.
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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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