Insider Selling: Lannett Company major shareholder Unloads 5,000 Shares of Stock (LCI)
Lannett Company (NYSE:LCI) major shareholder David Farber unloaded 5,000 shares of Lannett Company stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $41.30, for a total transaction of $206,500.00. Following the sale, the insider now directly owns 75,870 shares of the company’s stock, valued at approximately $3,133,431. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on LCI. Analysts at Craig Hallum downgraded shares of Lannett Company from a “buy” rating to a “hold” rating in a research note on Tuesday. Analysts at Oppenheimer raised their price target on shares of Lannett Company from $49.00 to $52.00 in a research note on Tuesday, July 15th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Lannett Company currently has a consensus rating of “Buy” and a consensus target price of $47.00.
Lannett Company (NYSE:LCI) traded up 2.54% on Friday, hitting $35.95. The stock had a trading volume of 169,925 shares. Lannett Company has a 52 week low of $12.39 and a 52 week high of $51.659. The stock has a 50-day moving average of $39.02 and a 200-day moving average of $39.82. The company has a market cap of $1.279 billion and a price-to-earnings ratio of 31.53.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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