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.
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.
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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