Brokerages Set Lannett Co. (NYSE:LCI) Price Target at $29.92
Shares of Lannett Co. (NYSE:LCI) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $29.92.
LCI has been the subject of a number of research reports. TheStreet raised Lannett from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Raymond James Financial Inc. increased their target price on Lannett from $31.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 24th. Zacks Investment Research raised Lannett from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, July 13th. Deutsche Bank AG initiated coverage on Lannett in a research note on Wednesday, June 29th. They set a “hold” rating and a $26.00 target price for the company. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th.
In related news, Director James M. Maher sold 1,478 shares of the firm’s stock in a transaction on 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 directly owns 20,320 shares of the company’s stock, valued at $689,051.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider G. Michael Landis sold 6,786 shares of the firm’s stock in a transaction on 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 directly owns 4,580 shares of the company’s stock, valued at $153,017.80. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in LCI. Mason Street Advisors LLC purchased a new position in Lannett during the second quarter valued at $130,000. Acrospire Investment Management LLC purchased a new position in Lannett during the first quarter valued at $105,000. Legal & General Group Plc boosted its position in Lannett by 4.4% in the first quarter. Legal & General Group Plc now owns 6,620 shares of the company’s stock valued at $117,000 after buying an additional 282 shares in the last quarter. BlackRock Inc. boosted its position in Lannett by 277.7% in the second quarter. BlackRock Inc. now owns 7,517 shares of the company’s stock valued at $179,000 after buying an additional 5,527 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new position in Lannett during the second quarter valued at $197,000. 77.22% of the stock is owned by institutional investors and hedge funds.
Shares of Lannett (NYSE:LCI) opened at 26.74 on Tuesday. The stock has a 50 day moving average of $31.00 and a 200-day moving average of $25.59. Lannett has a 52 week low of $16.91 and a 52 week high of $49.44. The firm has a market capitalization of $986.49 million, a PE ratio of 22.28 and a beta of 1.93.
Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.14. The business had revenue of $168.90 million for the quarter, compared to the consensus estimate of $161.55 million. Lannett had a net margin of 7.91% and a return on equity of 23.75%. Lannett’s revenue for the quarter was up 70.1% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. Equities analysts anticipate that Lannett will post $3.39 earnings per share for the current fiscal year.
Lannett 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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