Lannett Company Lifted to Outperform at Zacks (LCI)
Lannett Company (NYSE:LCI) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday. The firm currently has a $43.00 price objective on the stock. Zacks‘s target price points to a potential upside of 9.36% from the company’s current price.
In other Lannett Company news, major shareholder David Farber unloaded 5,000 shares of Lannett Company 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 transaction of $206,500.00. The transaction was disclosed in a filing 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 other analysts have also recently weighed in on LCI. Analysts at Oppenheimer reiterated an “outperform” rating on shares of Lannett Company in a research note on Thursday. They now have a $51.00 price target on the stock, down previously from $52.00. 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Lannett Company has a consensus rating of “Buy” and a consensus price target of $45.75.
Shares of Lannett Company (NYSE:LCI) traded down 1.69% during mid-day trading on Thursday, hitting $38.655. 1,019,781 shares of the company’s stock traded hands. Lannett Company has a 1-year low of $12.70 and a 1-year 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 $1.375 billion and a P/E ratio of 35.36.
Lannett Company (NYSE:LCI) last released its earnings data 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. Analysts expect that Lannett Company will post $2.47 EPS for the current fiscal year.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.