Lannett (LCI) Shares Down 19.1%

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.



Lannett (NYSE:LCI) last issued its earnings results on Monday, May 6th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $172.79 million for the quarter, compared to analyst estimates of $155.55 million. Lannett had a negative net margin of 39.84% and a positive return on equity of 25.79%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, analysts forecast that Lannett Company, Inc. will post 2.18 EPS for the current year.

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.

TRADEMARK VIOLATION WARNING: “Lannett (LCI) Shares Down 19.1%” was first reported by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://dakotafinancialnews.com/2019/05/14/lannett-lci-shares-down-19-1.html.

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.

Featured Article: Strangles

Receive News & Ratings for Lannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett and related companies with MarketBeat.com's FREE daily email newsletter.