Lannett Company Sees Unusually-High Trading Volume After Analyst Upgrade (LCI)
Lannett Company (NYSE:LCI) shares saw strong trading volume on Wednesday after Oppenheimer raised their price target on the stock from $49.00 to $52.00, Analyst Ratings.Net reports. Oppenheimer currently has an outperform rating on the stock. 2,114,371 shares changed hands during mid-day trading, an increase of 235% from the previous session’s volume of 630,534 shares.The stock last traded at $40.27 and had previously closed at $47.09.
Separately, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Lannett Company currently has an average rating of “Buy” and a consensus price target of $44.70.
The stock has a 50-day moving average of $46.82 and a 200-day moving average of $39.63. The company has a market cap of $1.388 billion and a price-to-earnings ratio of 42.35.
Lannett Company (NYSE:LCI) last posted its quarterly earnings results 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.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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