Canaccord Genuity Reiterates Buy Rating for Lannett Co. (LCI)
Lannett Co. (NYSE:LCI)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a note issued to investors on Thursday, American Banking and Market News reports. They currently have a $18.00 price objective on the stock. Canaccord Genuity’s price objective would suggest a potential downside of 5.11% from the stock’s previous close.
A number of other firms have also recently commented on LCI. Analysts at Zacks upgraded shares of Lannett Co. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, October 4th. They now have a $23.00 price target on the stock. Separately, analysts at Needham & Company downgraded shares of Lannett Co. from a “buy” rating to a “hold” rating in a research note to investors on Friday, October 4th. Finally, analysts at Oppenheimer raised their price target on shares of Lannett Co. to $20.00 in a research note to investors on Wednesday, September 11th. They now have a “hold” rating on the stock.
Shares of Lannett Co. (NYSE:LCI) traded up 5.62% on Thursday, hitting $18.97. 565,338 shares of the company’s stock traded hands. Lannett Co. has a one year low of $3.93 and a one year high of $23.42. The stock has a 50-day moving average of $16.94 and a 200-day moving average of $13.21. The company has a market cap of $576.5 million and a price-to-earnings ratio of 39.04.
Lannett Co. (NYSE:LCI) last announced its earnings results on Tuesday, September 10th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The company had revenue of $40.20 million for the quarter, compared to the consensus estimate of $37.89 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts predict that Lannett Co. will post $0.55 earnings per share for the current fiscal year.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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