Lannett Company (LCI) Posts Quarterly Earnings, Beats Expectations By $0.10 EPS
Lannett Company (NYSE:LCI) posted its quarterly earnings results on Wednesday. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.10, American Banking News reports. The company had revenue of $80.60 million for the quarter, compared to the consensus estimate of $79.50 million.
In other Lannett Company news, major shareholder David Farber sold 5,000 shares of Lannett Company stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $41.30, for a total transaction of $206,500.00. The transaction was disclosed in a 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.
A number of analysts have recently weighed in on LCI shares. Analysts at Craig Hallum downgraded shares of Lannett Company from a “buy” rating to a “hold” rating in a research note on Tuesday, August 19th. 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. The stock currently has an average rating of “Buy” and a consensus target price of $47.00.
Lannett Company (NYSE:LCI) traded down 0.08% on Wednesday, hitting $39.32. 1,026,468 shares of the company’s stock traded hands. Lannett Company has a 52 week low of $12.39 and a 52 week high of $51.659. The stock’s 50-day moving average is $38.33 and its 200-day moving average is $40.01. The company has a market cap of $1.399 billion and a P/E ratio of 35.39.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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