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.
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