Lannett (LCI) Trading 8.5% Higher

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.

Lannett (NYSE:LCI) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. Lannett had a return on equity of 18.23% and a net margin of 6.67%. The company had revenue of $155.00 million during the quarter, compared to the consensus estimate of $153.62 million. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. equities research analysts predict that Lannett Company, Inc. will post 2.99 earnings per share for the current fiscal year.

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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About Lannett

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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