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Shares of Lannett Company (NYSE:LCI) fell 5.5% during trading on Friday following insider selling activity, American Banking News.com reports. The stock traded as low as $42.61 and last traded at $42.97, with a volume of 594,322 shares changing hands. The stock had previously closed at $45.46.

Specifically, VP Kevin Smith sold 64,665 shares of Lannett Company stock on the open market in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $45.11, for a total transaction of $2,917,038.15. Following the completion of the sale, the vice president now directly owns 59,566 shares of the company’s stock, valued at approximately $2,687,022. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

A number of research firms have recently commented on LCI. Analysts at Jefferson Research downgraded shares of Lannett Company from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Separately, analysts at Zacks upgraded shares of Lannett Company from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 11th. They now have a $40.10 price target on the stock. Finally, analysts at TheStreet upgraded shares of Lannett Company from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.53.

The stock has a 50-day moving average of $36.33 and a 200-day moving average of $25.66. The company has a market cap of $1.515 billion and a P/E ratio of 79.48.

Lannett Company (NYSE:LCI) last released its earnings data on Thursday, February 6th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ 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. Lannett Company’s revenue was up 84.1% compared to the same quarter last year. Analysts expect that Lannett Company will post $1.85 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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