Lannett’s (LCI) Hold Rating Reaffirmed at Deutsche Bank AG
Lannett Co. (NYSE:LCI)‘s stock had its “hold” rating reiterated by analysts at Deutsche Bank AG in a report issued on Tuesday. They presently have a $26.00 price objective on the stock, down from their prior price objective of $32.00. Deutsche Bank AG’s price target would suggest a potential upside of 20.09% from the company’s current price.
Several other brokerages have also recently weighed in on LCI. Zacks Investment Research upgraded Lannett from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Friday, July 1st. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a report on Tuesday, July 12th. TheStreet cut Lannett to a “hold” rating in a report on Tuesday. Finally, Raymond James Financial Inc. raised their price objective on Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.36.
Lannett (NYSE:LCI) traded up 2.08% during trading on Tuesday, reaching $22.10. The company’s stock had a trading volume of 829,821 shares. Lannett has a 52-week low of $16.91 and a 52-week high of $49.44. The firm’s 50-day moving average is $29.40 and its 200-day moving average is $25.95. The stock has a market cap of $815.31 million, a P/E ratio of 18.42 and a beta of 1.93.
Lannett (NYSE:LCI) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.14. Lannett had a return on equity of 23.75% and a net margin of 7.91%. The firm had revenue of $168.90 million for the quarter, compared to the consensus estimate of $161.55 million. During the same quarter last year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 70.1% on a year-over-year basis. Equities research analysts forecast that Lannett will post $3.39 EPS for the current year.
In other news, Director James M. Maher sold 1,478 shares of Lannett stock in a transaction that occurred 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 sale, the director now directly owns 20,320 shares in the company, valued at $689,051.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider G. Michael Landis sold 6,786 shares of Lannett stock in a transaction that occurred 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 sale, the insider now owns 4,580 shares of the company’s stock, valued at $153,017.80. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in LCI. Mason Street Advisors LLC acquired a new stake in Lannett during the second quarter worth $130,000. Acrospire Investment Management LLC increased its stake in Lannett by 13.7% in the second quarter. Acrospire Investment Management LLC now owns 6,656 shares of the company’s stock worth $158,000 after buying an additional 800 shares during the last quarter. BlackRock Inc. increased its stake in 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 last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in Lannett during the second quarter worth $197,000. Finally, Fisher Asset Management LLC purchased a new position in shares of Lannett during the third quarter valued at approximately $203,000. Institutional investors own 78.88% of the company’s stock.
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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