Lannett Co Inc (LCI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Lannett Co Inc (NYSE:LCI) from a hold rating to a buy rating in a report published on Friday. They currently have $28.00 price target on the stock.

According to Zacks, “Lannett, Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition, the Company contract manufactures and private labels pharmaceutical products for other companies. “

A number of other brokerages have also commented on LCI. BidaskClub lowered shares of Lannett Co from a hold rating to a sell rating in a report on Wednesday, August 2nd. ValuEngine upgraded shares of Lannett Co from a hold rating to a buy rating in a report on Thursday. Roth Capital set a $27.00 price target on shares of Lannett Co and gave the stock a buy rating in a report on Tuesday, August 22nd. Deutsche Bank AG reiterated a hold rating and set a $23.00 price target (up previously from $22.00) on shares of Lannett Co in a report on Monday, July 17th. Finally, BMO Capital Markets reissued a market perform rating and set a $20.00 target price (down previously from $26.00) on shares of Lannett Co in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Lannett Co has a consensus rating of Hold and a consensus price target of $22.40.

Lannett Co (LCI) opened at $23.55 on Friday. The company has a market cap of $887.07, a price-to-earnings ratio of 8.75, a PEG ratio of 2.05 and a beta of 2.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52. Lannett Co has a fifty-two week low of $14.90 and a fifty-two week high of $27.90.

Lannett Co (NYSE:LCI) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. Lannett Co had a net margin of 6.67% and a return on equity of 18.23%. Lannett Co’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. research analysts forecast that Lannett Co will post 2.87 EPS for the current year.

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In related news, major shareholder David Farber sold 10,000 shares of Lannett Co stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $25.03, for a total transaction of $250,300.00. Following the completion of the transaction, the insider now owns 4,211,069 shares of the company’s stock, valued at $105,403,057.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arthur P. Bedrosian sold 7,422 shares of Lannett Co stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total transaction of $187,034.40. Following the transaction, the chief executive officer now directly owns 679,001 shares of the company’s stock, valued at approximately $17,110,825.20. The disclosure for this sale can be found here. 15.04% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. increased its stake in Lannett Co by 38.7% in the first quarter. OppenheimerFunds Inc. now owns 22,561 shares of the company’s stock valued at $504,000 after purchasing an additional 6,290 shares in the last quarter. Principal Financial Group Inc. increased its stake in Lannett Co by 3.7% in the first quarter. Principal Financial Group Inc. now owns 223,305 shares of the company’s stock valued at $4,991,000 after purchasing an additional 7,952 shares in the last quarter. Teachers Advisors LLC increased its stake in Lannett Co by 4.9% in the first quarter. Teachers Advisors LLC now owns 47,386 shares of the company’s stock valued at $1,059,000 after purchasing an additional 2,209 shares in the last quarter. Legal & General Group Plc increased its stake in Lannett Co by 1.8% in the first quarter. Legal & General Group Plc now owns 50,946 shares of the company’s stock valued at $1,139,000 after purchasing an additional 883 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Lannett Co by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,733,431 shares of the company’s stock valued at $61,093,000 after purchasing an additional 123,761 shares in the last quarter. 71.58% of the stock is owned by institutional investors and hedge funds.

About Lannett Co

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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