Lannett Co Inc (NYSE:LCI) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Lannett Co Inc (NYSE:LCI) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday.
A number of other research analysts also recently commented on the company. BMO Capital Markets initiated coverage on Lannett Co in a research note on Monday, May 1st. They issued a market perform rating and a $29.00 price target for the company. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Lannett Co in a research note on Tuesday, May 2nd. Zacks Investment Research raised Lannett Co from a hold rating to a buy rating and set a $27.00 price target for the company in a research note on Saturday, April 22nd. Robert W. Baird reaffirmed an outperform rating and issued a $18.00 price target on shares of Lannett Co in a research note on Wednesday, May 3rd. Finally, ValuEngine downgraded Lannett Co from a buy rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $27.50.
Lannett Co (LCI) traded up 1.55% during midday trading on Tuesday, hitting $16.40. 769,048 shares of the stock traded hands. The firm’s 50 day moving average is $20.02 and its 200-day moving average is $21.30. Lannett Co has a 12-month low of $15.75 and a 12-month high of $39.99. The stock’s market capitalization is $610.57 million.
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Hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System increased its position in shares of Lannett Co by 5.5% in the second quarter. California Public Employees Retirement System now owns 78,100 shares of the company’s stock valued at $1,593,000 after buying an additional 4,100 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lannett Co by 6.2% in the second quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock valued at $59,198,000 after buying an additional 168,454 shares during the last quarter. Northern Trust Corp increased its position in shares of Lannett Co by 2.3% in the second quarter. Northern Trust Corp now owns 374,533 shares of the company’s stock valued at $7,641,000 after buying an additional 8,386 shares during the last quarter. Pinebridge Investments L.P. increased its position in shares of Lannett Co by 1,041.1% in the second quarter. Pinebridge Investments L.P. now owns 43,726 shares of the company’s stock valued at $892,000 after buying an additional 39,894 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Lannett Co by 7.3% in the second quarter. Nationwide Fund Advisors now owns 26,349 shares of the company’s stock valued at $538,000 after buying an additional 1,800 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.
Lannett Co Company Profile
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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