Lannett Company, Inc. (LCI) Lowered to “Strong Sell” at Zacks Investment Research
Lannett Company, Inc. (NYSE:LCI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
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. “
A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $20.00 price target (down previously from $26.00) on shares of Lannett in a research note on Thursday, August 24th. BidaskClub cut shares of Lannett from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lannett in a research note on Wednesday, August 23rd. Deutsche Bank AG dropped their price target on shares of Lannett from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, August 14th. Finally, ValuEngine cut shares of Lannett from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.80.
Lannett (NYSE:LCI) traded up 1.98% on Tuesday, reaching $18.05. 369,646 shares of the company’s stock traded hands. The company’s market cap is $672.98 million. The firm’s 50 day moving average price is $17.48 and its 200 day moving average price is $20.65. Lannett has a 12 month low of $14.90 and a 12 month high of $33.53.
Lannett (NYSE:LCI) last announced its earnings results on Wednesday, August 23rd. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Lannett had a net margin of 4.12% and a return on equity of 4.12%. The firm had revenue of $139.10 million for the quarter, compared to analysts’ expectations of $139.01 million. During the same quarter in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was down 17.6% on a year-over-year basis. On average, equities analysts expect that Lannett will post $2.57 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its position in Lannett by 77.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Lannett by 4.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock worth $142,000 after buying an additional 300 shares during the last quarter. Mason Street Advisors LLC raised its position in Lannett by 7.5% in the 1st quarter. Mason Street Advisors LLC now owns 6,870 shares of the company’s stock worth $154,000 after buying an additional 482 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Lannett by 49.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock worth $188,000 after buying an additional 3,061 shares during the last quarter. Finally, Airain ltd purchased a new position in Lannett in the 1st quarter worth about $205,000. Institutional investors own 88.06% of the company’s stock.
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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