Lannett (LCI) PT Lowered to $21.00

Lannett (NYSE:LCI) had its price target cut by analysts at BMO Capital Markets from $22.00 to $21.00 in a research note issued to investors on Thursday. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 16.99% from the stock’s previous close.

Several other research analysts have also issued reports on LCI. Zacks Investment Research upgraded shares of Lannett from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Oppenheimer reissued a “hold” rating on shares of Lannett in a research report on Monday, December 11th. Finally, Goldman Sachs Group initiated coverage on shares of Lannett in a research report on Wednesday, January 24th. They set a “neutral” rating and a $21.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lannett has an average rating of “Hold” and a consensus price target of $20.83.

Lannett (NYSE:LCI) traded down $0.10 during mid-day trading on Thursday, hitting $17.95. The stock had a trading volume of 1,246,702 shares, compared to its average volume of 752,913. Lannett has a 1 year low of $14.90 and a 1 year high of $30.35. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.90 and a current ratio of 2.32. The company has a market cap of $676.71, a price-to-earnings ratio of 14.13, a PEG ratio of 1.13 and a beta of 2.51.

Lannett (NYSE:LCI) last posted its quarterly earnings data 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 return on equity of 18.85% and a net margin of 7.44%. The firm had revenue of $184.31 million during the quarter, compared to analyst estimates of $190.92 million. During the same period last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. equities analysts forecast that Lannett will post 3.14 earnings per share for the current year.

In related news, CEO Arthur P. Bedrosian sold 42,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total value of $1,071,000.00. Following the sale, the chief executive officer now owns 636,616 shares in the company, valued at $16,233,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arthur P. Bedrosian sold 50,000 shares of Lannett stock in a transaction on Friday, November 24th. The stock was sold at an average price of $26.75, for a total transaction of $1,337,500.00. Following the transaction, the chief executive officer now owns 636,616 shares in the company, valued at approximately $17,029,478. The disclosure for this sale can be found here. Insiders sold 122,578 shares of company stock worth $3,243,757 in the last 90 days. 14.72% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC bought a new stake in Lannett in the 4th quarter valued at $21,367,000. JPMorgan Chase & Co. boosted its position in Lannett by 296.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 306,106 shares of the company’s stock valued at $5,678,000 after buying an additional 228,947 shares during the period. Thompson Siegel & Walmsley LLC boosted its position 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 buying an additional 171,751 shares during the period. Vanguard Group Inc. boosted its position 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 buying an additional 168,454 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in Lannett in the 4th quarter valued at about $3,506,000. Institutional investors and hedge funds own 99.69% of the company’s stock.

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About Lannett

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.

Analyst Recommendations for Lannett (NYSE:LCI)

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