Lannett Company, Inc. (NYSE:LCI)’s share price traded down 19.1% on Monday . The company traded as low as $5.40 and last traded at $5.55. 3,819,183 shares traded hands during mid-day trading, an increase of 149% from the average session volume of 1,535,460 shares. The stock had previously closed at $6.86.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “strong-buy” rating and set a $9.75 price objective on the stock in a research report on Saturday, February 9th. SunTrust Banks assumed coverage on shares of Lannett in a research report on Tuesday, March 19th. They issued a “hold” rating and a $9.00 price objective on the stock. Finally, ValuEngine lowered shares of Lannett from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. Lannett presently has a consensus rating of “Hold” and a consensus target price of $19.45.
The stock has a market capitalization of $269.74 million, a P/E ratio of 1.79 and a beta of 2.40. The company has a current ratio of 2.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.10.
In related news, Director Jeffrey Farber bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $6.85 per share, for a total transaction of $68,500.00. Following the transaction, the director now owns 2,096,054 shares of the company’s stock, valued at $14,357,969.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.57% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its position in shares of Lannett by 15.2% during the 4th quarter. State of Alaska Department of Revenue now owns 11,478 shares of the company’s stock worth $56,000 after purchasing an additional 1,515 shares in the last quarter. Comerica Bank boosted its position in shares of Lannett by 5.4% in the 1st quarter. Comerica Bank now owns 34,003 shares of the company’s stock worth $285,000 after buying an additional 1,754 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Lannett by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 275,133 shares of the company’s stock worth $1,365,000 after buying an additional 1,861 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Lannett by 5.0% in the 1st quarter. California State Teachers Retirement System now owns 46,651 shares of the company’s stock worth $367,000 after buying an additional 2,216 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Lannett by 6.3% in the 4th quarter. Arizona State Retirement System now owns 52,189 shares of the company’s stock worth $259,000 after buying an additional 3,093 shares in the last quarter. Institutional investors own 81.19% of the company’s stock.
Lannett Company Profile (NYSE:LCI)
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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