Lannett Company Given Outperform Rating at Oppenheimer (LCI)
Lannett Company (NYSE:LCI)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer in a note issued to investors on Thursday. They currently have a $51.00 price objective on the stock, down from their previous price objective of $52.00. Oppenheimer’s price objective would indicate a potential upside of 29.70% from the company’s current price.
In other Lannett Company news, major shareholder David Farber sold 5,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $41.30, for a total value of $206,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Separately, 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.67.
Lannett Company (NYSE:LCI) traded down 1.78% during mid-day trading on Thursday, hitting $38.62. 740,547 shares of the company’s stock traded hands. Lannett Company has a 52 week low of $12.70 and a 52 week high of $51.659. The stock’s 50-day moving average is $38.16 and its 200-day moving average is $40.01. The company has a market cap of $1.374 billion and a P/E ratio of 35.36.
Lannett Company (NYSE:LCI) last announced its earnings results on Wednesday, August 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. The company had revenue of $80.60 million for the quarter, compared to the consensus estimate of $79.50 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 100.5% on a year-over-year basis. On average, analysts predict that Lannett Company will post $2.47 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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