Lannett Company major shareholder David Farber Unloads 10,000 Shares (LCI)
Lannett Company (NYSE:LCI) major shareholder David Farber sold 10,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $43.53, for a total value of $435,300.00. Following the completion of the sale, the insider now directly owns 77,500 shares of the company’s stock, valued at approximately $3,373,575. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
LCI has been the subject of a number of recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of Lannett Company in a research note on Tuesday, May 6th. They set a “buy” rating and a $55.00 price target on the stock. Analysts at Zacks downgraded shares of Lannett Company from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $37.80 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Lannett Company presently has an average rating of “Buy” and a consensus price target of $42.95.
Lannett Company (NYSE:LCI) traded up 0.15% on Wednesday, hitting $47.27. 473,784 shares of the company’s stock traded hands. Lannett Company has a 52 week low of $10.18 and a 52 week high of $48.613. The stock has a 50-day moving average of $40.05 and a 200-day moving average of $37.24. The company has a market cap of $1.681 billion and a P/E ratio of 42.45.
Lannett Company (NYSE:LCI) last released its earnings data on Wednesday, May 7th. The company reported $0.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.03. The company had revenue of $80.00 million for the quarter, compared to the consensus estimate of $84.50 million. During the same quarter last year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 105.0% on a year-over-year basis. On average, analysts predict that Lannett Company will post $1.75 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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