David Farber Sells 10,000 Shares of Lannett Company, Inc. (LCI) Stock
Lannett Company, Inc. (NYSE:LCI) major shareholder David Farber sold 10,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $26.88, for a total transaction of $268,800.00. Following the completion of the sale, the insider now directly owns 4,191,269 shares of the company’s stock, valued at approximately $112,661,310.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
David Farber also recently made the following trade(s):
- On Wednesday, November 8th, David Farber sold 10,000 shares of Lannett stock. The stock was sold at an average price of $25.03, for a total transaction of $250,300.00.
Lannett Company, Inc. (LCI) opened at $29.25 on Wednesday. The firm has a market cap of $1,075.40, a price-to-earnings ratio of 10.61, a PEG ratio of 2.39 and a beta of 2.85. The company has a quick ratio of 1.90, a current ratio of 2.52 and a debt-to-equity ratio of 1.44. Lannett Company, Inc. has a 52 week low of $14.90 and a 52 week high of $30.20.
Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake in Lannett by 77.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after acquiring an additional 2,513 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Lannett by 4.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after acquiring an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Lannett by 49.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after acquiring an additional 3,061 shares during the last quarter. Neuberger Berman Group LLC bought a new position in Lannett during the 3rd quarter valued at $188,000. Finally, Hartford Investment Management Co. bought a new position in Lannett during the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 97.27% of the company’s stock.
Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, November 10th. BMO Capital Markets upped their target price on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, November 13th. BidaskClub downgraded shares of Lannett from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank decreased their target price on shares of Lannett from $23.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Lannett currently has a consensus rating of “Hold” and an average price target of $22.80.
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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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