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Lannett Co. (NYSE:LCI) shares reached a new 52-week high during mid-day trading on Monday after TheStreet upgraded the stock from a hold rating to a buy rating, Stock Ratings Network.com reports. The company traded as high as $38.44 and last traded at $38.16, with a volume of 954,406 shares changing hands. The stock had previously closed at $35.97.

The analysts wrote, “Lannett Company (LCI) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”

A number of other firms have also recently commented on LCI. Analysts at Canaccord Genuity raised their price target on shares of Lannett Co. from $29.00 to $55.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Lannett Co. from $41.00 to $45.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks downgraded shares of Lannett Co. from an “outperform” rating to a “neutral” rating in a research note on Monday, January 13th. They now have a $37.80 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $42.95.

The stock has a 50-day moving average of $34.50 and a 200-day moving average of $24.29. The company has a market cap of $1.330 billion and a P/E ratio of 62.88.

Lannett Co. (NYSE:LCI) last announced its earnings results on Thursday, February 6th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.07. The company had revenue of $67.30 million for the quarter, compared to the consensus estimate of $62.21 million. The company’s quarterly revenue was up 84.1% on a year-over-year basis. Analysts expect that Lannett Co. will post $1.65 EPS 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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