Lannett Co. (LCI) Given Hold Rating at Deutsche Bank AG
Lannett Co. (NYSE:LCI)‘s stock had its “hold” rating restated by stock analysts at Deutsche Bank AG in a note issued to investors on Tuesday. They currently have a $26.00 target price on the stock, down from their prior target price of $32.00. Deutsche Bank AG’s target price would suggest a potential upside of 20.09% from the stock’s current price.
Other analysts have also recently issued reports about the stock. TheStreet cut shares of Lannett to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Lannett from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a report on Tuesday, July 12th. Finally, Raymond James Financial Inc. increased their price target on shares of Lannett from $31.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.36.
Lannett (NYSE:LCI) traded up 1.732% during trading on Tuesday, reaching $22.025. 847,310 shares of the company traded hands. The firm has a market capitalization of $812.55 million, a price-to-earnings ratio of 18.354 and a beta of 1.93. The firm’s 50 day moving average price is $29.40 and its 200 day moving average price is $25.95. Lannett has a 12-month low of $16.91 and a 12-month high of $49.44.
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Lannett (NYSE:LCI) last posted its earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. Lannett had a net margin of 7.91% and a return on equity of 23.75%. The business had revenue of $168.90 million for the quarter, compared to analysts’ expectations of $161.55 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 70.1% compared to the same quarter last year. Equities research analysts expect that Lannett will post $3.39 earnings per share for the current year.
In related news, insider G. Michael Landis sold 6,786 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $33.41, for a total transaction of $226,720.26. Following the transaction, the insider now owns 4,580 shares of the company’s stock, valued at approximately $153,017.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James M. Maher sold 1,478 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $33.91, for a total transaction of $50,118.98. Following the transaction, the director now directly owns 20,320 shares in the company, valued at approximately $689,051.20. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. bought a new stake in Lannett during the third quarter valued at approximately $267,000. Hollencrest Securities LLC bought a new stake in Lannett during the third quarter valued at approximately $412,000. Creative Planning boosted its stake in Lannett by 37.6% in the third quarter. Creative Planning now owns 20,553 shares of the company’s stock valued at $546,000 after buying an additional 5,613 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Lannett during the third quarter valued at approximately $203,000. Finally, Telemus Capital LLC boosted its stake in Lannett by 10.7% in the third quarter. Telemus Capital LLC now owns 6,482,126 shares of the company’s stock valued at $172,230,000 after buying an additional 627,816 shares in the last quarter. 78.88% of the stock is currently owned by institutional investors.
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
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