Lannett Company, Inc. (NYSE:LCI) Director Albert Paonessa III sold 16,195 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $12.54, for a total value of $203,085.30. Following the sale, the director now owns 45,945 shares of the company’s stock, valued at approximately $576,150.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Albert Paonessa III also recently made the following trade(s):
- On Friday, September 6th, Albert Paonessa III sold 11,582 shares of Lannett stock. The stock was sold at an average price of $10.30, for a total value of $119,294.60.
LCI stock traded up $1.65 during mid-day trading on Wednesday, reaching $14.10. 3,565,177 shares of the company traded hands, compared to its average volume of 1,621,026. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 1.98. The firm’s 50 day moving average price is $7.85 and its 200 day moving average price is $7.14. The stock has a market cap of $483.25 million, a price-to-earnings ratio of 6.00 and a beta of 2.19. Lannett Company, Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $14.16.
LCI has been the subject of several research reports. Roth Capital reissued a “neutral” rating on shares of Lannett in a research report on Wednesday, August 28th. SunTrust Banks upped their price objective on shares of Lannett to $10.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. ValuEngine raised shares of Lannett from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “strong-buy” rating and set a $9.25 price objective for the company in a report on Friday, August 30th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Lannett presently has a consensus rating of “Hold” and a consensus price target of $9.63.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Lannett by 274.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,528,926 shares of the company’s stock valued at $19,903,000 after buying an additional 1,853,436 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lannett by 33.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,689,687 shares of the company’s stock worth $16,300,000 after acquiring an additional 678,248 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Lannett by 10.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,451,212 shares of the company’s stock worth $20,914,000 after acquiring an additional 339,593 shares during the last quarter. Marshall Wace LLP purchased a new position in Lannett during the 2nd quarter worth $2,007,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Lannett by 118.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,145 shares of the company’s stock worth $2,522,000 after acquiring an additional 225,250 shares in the last quarter. Institutional investors and hedge funds own 98.56% of the company’s stock.
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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