Lannett Company Sets New 1-Year High at $51.59 (LCI)
Lannett Company (NYSE:LCI) shares hit a new 52-week high on Wednesday , Analyst RN reports. The company traded as high as $51.59 and last traded at $51.38, with a volume of 165,439 shares trading hands. The stock had previously closed at $49.96.
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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Lannett Company currently has a consensus rating of “Buy” and a consensus target price of $42.95.
The stock has a 50-day moving average of $43.96 and a 200-day moving average of $38.56. The company has a market cap of $1.821 billion and a P/E ratio of 44.93.
Lannett Company (NYSE:LCI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 105.0% on a year-over-year basis. Analysts expect that Lannett Company will post $1.75 EPS for the current fiscal year.
In other Lannett Company news, major shareholder David Farber sold 7,500 shares of the stock on the open market in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $50.00, for a total transaction of $375,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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