Lannett Co. Rating Increased to Outperform at Oppenheimer (LCI)
Lannett Co. (NYSE:LCI) was upgraded by investment analysts at Oppenheimer to an “outperform” rating in a note issued to investors on Friday, Analyst Ratings Network reports.
Shares of Lannett Co. (NYSE:LCI) traded up 8.09% during mid-day trading on Friday, hitting $23.24. 346,123 shares of the company’s stock traded hands. Lannett Co. has a 52 week low of $3.93 and a 52 week high of $18.20. The stock’s 50-day moving average is $13.74 and its 200-day moving average is $11.88. The company has a market cap of $706.2 million and a P/E ratio of 46.74.
Lannett Co. (NYSE:LCI) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Lannett Co. will post $0.64 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. initiated coverage on shares of Lannett Co. in a research note to investors on Friday. They set a “buy” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Lannett Co. in a research note to investors on Thursday, October 10th. They now have a $18.00 price target on the stock. Finally, 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Lannett Co. presently has an average rating of “Buy” and an average target price of $20.50.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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