Lannett (LCI) Lifted to “Strong-Buy” at Zacks Investment Research

Lannett (NYSE:LCI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday. The firm presently has a $21.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.99% from the stock’s previous close.

According to Zacks, “Lannett Company manufactures and distributes high quality affordable generic medications that are the therapeutic equivalent of the brand-name pharmaceuticals. Their portfolio consists of numerous products across a wide range of therapeutic areas. Lannett believes that their ability to select viable products for development, efficiently develop such products, including obtaining any applicable regulatory approvals, vertically integrate themselves into certain specialty markets and achieve economies in production are all critical for their success in the generic pharmaceutical industry in which they operate. Lannett Company, Inc., continues to dedicate significant capital toward developing new products as they believe their success is linked to their ability to continually introduce new generic products into the marketplace. “

Several other research firms also recently weighed in on LCI. Oppenheimer reiterated a “hold” rating on shares of Lannett in a research report on Monday, December 11th. ValuEngine upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research report on Saturday, November 25th. BMO Capital Markets raised their price objective on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, November 13th. Goldman Sachs Group assumed coverage on shares of Lannett in a research report on Wednesday, January 24th. They set a “neutral” rating and a $21.00 price objective on the stock. Finally, Roth Capital set a $25.00 price objective on shares of Lannett and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Lannett presently has a consensus rating of “Hold” and an average price target of $20.83.

Lannett (NYSE LCI) traded down $0.10 on Friday, reaching $17.95. 1,249,854 shares of the company’s stock traded hands, compared to its average volume of 746,718. The company has a quick ratio of 1.90, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. Lannett has a fifty-two week low of $14.90 and a fifty-two week high of $30.35. The company has a market capitalization of $683.08, a P/E ratio of 14.13, a PEG ratio of 1.13 and a beta of 2.51.

Lannett (NYSE:LCI) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.20. Lannett had a net margin of 7.44% and a return on equity of 18.85%. The business had revenue of $184.31 million for the quarter, compared to the consensus estimate of $190.92 million. During the same period last year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. research analysts expect that Lannett will post 3.19 earnings per share for the current year.

In other news, CEO Arthur P. Bedrosian sold 42,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total transaction of $1,071,000.00. Following the sale, the chief executive officer now directly owns 636,616 shares in the company, valued at approximately $16,233,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David Farber sold 9,816 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $30.05, for a total transaction of $294,970.80. Following the sale, the insider now owns 4,190,169 shares in the company, valued at $125,914,578.45. The disclosure for this sale can be found here. Insiders have sold a total of 122,578 shares of company stock worth $3,243,757 over the last 90 days. Insiders own 14.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Lannett by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock valued at $59,198,000 after acquiring an additional 168,454 shares during the last quarter. LSV Asset Management increased its holdings in Lannett by 2.2% in the 4th quarter. LSV Asset Management now owns 1,835,535 shares of the company’s stock valued at $42,584,000 after acquiring an additional 40,000 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Lannett by 20.5% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,010,232 shares of the company’s stock valued at $18,639,000 after acquiring an additional 171,751 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in Lannett in the 4th quarter valued at $21,367,000. Finally, Russell Investments Group Ltd. increased its holdings in Lannett by 27.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 669,298 shares of the company’s stock valued at $12,349,000 after acquiring an additional 142,278 shares during the last quarter. Institutional investors own 99.69% of the company’s stock.

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Lannett 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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