Lannett (NYSE:LCI) PT Raised to $14.00

Lannett (NYSE:LCI) had its price objective lifted by SunTrust Banks from $10.00 to $14.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a hold rating on the stock. SunTrust Banks also issued estimates for Lannett’s Q1 2020 earnings at $0.19 EPS, Q2 2020 earnings at $0.34 EPS, Q3 2020 earnings at $0.39 EPS, Q4 2020 earnings at $0.41 EPS, FY2020 earnings at $1.33 EPS, FY2021 earnings at $1.62 EPS, FY2023 earnings at $2.00 EPS and FY2024 earnings at $2.11 EPS.

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Lannett from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Lannett from a hold rating to a strong-buy rating and set a $9.25 price objective for the company in a research report on Friday, August 30th. Finally, Roth Capital reaffirmed a neutral rating on shares of Lannett in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $11.63.

Shares of NYSE:LCI opened at $13.80 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 1.98. Lannett has a fifty-two week low of $3.33 and a fifty-two week high of $15.52. The firm has a 50-day simple moving average of $9.12 and a 200 day simple moving average of $7.34. The company has a market cap of $541.84 million, a PE ratio of 5.71 and a beta of 2.19.



Lannett (NYSE:LCI) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. Lannett had a negative net margin of 41.52% and a positive return on equity of 28.00%. The business had revenue of $133.80 million during the quarter, compared to the consensus estimate of $120.28 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, research analysts forecast that Lannett will post 1.25 EPS for the current fiscal year.

In other news, Director Patrick G. Lepore bought 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $9.82 per share, for a total transaction of $245,500.00. Following the transaction, the director now owns 201,340 shares in the company, valued at $1,977,158.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert Paonessa III sold 16,195 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $12.54, for a total transaction of $203,085.30. Following the completion of the transaction, the director now owns 45,945 shares of the company’s stock, valued at approximately $576,150.30. The disclosure for this sale can be found here. 12.57% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank grew its position in Lannett by 5.4% in the 1st quarter. Comerica Bank now owns 34,003 shares of the company’s stock worth $285,000 after purchasing an additional 1,754 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Lannett by 8.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 22,820 shares of the company’s stock worth $138,000 after acquiring an additional 1,780 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Lannett by 105.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock worth $55,000 after acquiring an additional 3,615 shares during the period. Rhumbline Advisers lifted its stake in shares of Lannett by 4.7% in the 1st quarter. Rhumbline Advisers now owns 105,737 shares of the company’s stock worth $832,000 after acquiring an additional 4,751 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Lannett by 2.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 283,420 shares of the company’s stock worth $1,718,000 after acquiring an additional 6,347 shares during the period. Hedge funds and other institutional investors own 98.46% of the company’s stock.

About Lannett

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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