ValuEngine Upgrades Lannett Co Inc (LCI) to Buy
Lannett Co Inc (NYSE:LCI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Saturday.
A number of other research firms have also commented on LCI. BidaskClub lowered Lannett Co from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Lannett Co from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Roth Capital set a $27.00 price objective on Lannett Co and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. BMO Capital Markets raised their price objective on Lannett Co from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, November 13th. Finally, Deutsche Bank AG lowered their price objective on Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.80.
Lannett Co (NYSE:LCI) opened at $27.50 on Friday. Lannett Co has a 52 week low of $14.90 and a 52 week high of $27.90. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52. The company has a market capitalization of $962.40, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 2.13 and a beta of 2.73.
In other news, CEO Arthur P. Bedrosian sold 7,422 shares of Lannett Co stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total value of $187,034.40. Following the transaction, the chief executive officer now owns 679,001 shares in the company, valued at approximately $17,110,825.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David Farber sold 10,000 shares of Lannett Co stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $25.03, for a total value of $250,300.00. Following the completion of the transaction, the insider now owns 4,211,069 shares in the company, valued at approximately $105,403,057.07. The disclosure for this sale can be found here. Company insiders own 15.04% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV bought a new position in shares of Lannett Co in the 2nd quarter valued at $1,824,000. Schwab Charles Investment Management Inc. increased its stake in shares of Lannett Co by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,632 shares of the company’s stock valued at $3,135,000 after purchasing an additional 9,005 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Lannett Co by 82.5% in the 2nd quarter. Voya Investment Management LLC now owns 46,757 shares of the company’s stock valued at $954,000 after purchasing an additional 21,131 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Lannett Co in the 2nd quarter valued at $271,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of Lannett Co by 70.2% in the 2nd quarter. Tudor Investment Corp ET AL now owns 25,188 shares of the company’s stock valued at $514,000 after purchasing an additional 10,388 shares during the last quarter. Institutional investors own 96.83% of the company’s stock.
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Lannett Co Company Profile
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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