Lannett Co’s (LCI) “Market Perform” Rating Reiterated at BMO Capital Markets
BMO Capital Markets restated their market perform rating on shares of Lannett Co Inc (NYSE:LCI) in a research report released on Thursday morning. They currently have a $20.00 target price on the stock, down from their prior target price of $26.00.
LCI has been the subject of a number of other reports. Deutsche Bank AG restated a hold rating and set a $23.00 price objective (up from $22.00) on shares of Lannett Co in a research note on Monday, July 17th. Roth Capital set a $27.00 price objective on Lannett Co and gave the stock a buy rating in a research note on Tuesday, August 22nd. ValuEngine cut Lannett Co from a buy rating to a hold rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a hold rating on shares of Lannett Co in a research note on Thursday, June 8th. Finally, BidaskClub cut Lannett Co from a buy rating to a hold rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $21.80.
Lannett Co (NYSE:LCI) traded up 1.58% during trading on Thursday, reaching $16.05. 1,261,192 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $18.65 and a 200-day moving average of $20.99. Lannett Co has a 12 month low of $14.90 and a 12 month high of $34.64. The stock’s market cap is $592.55 million.
Lannett Co (NYSE:LCI) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $139.10 million during the quarter, compared to analysts’ expectations of $139.01 million. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The firm’s quarterly revenue was down 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. On average, equities research analysts anticipate that Lannett Co will post $2.59 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its position in shares of Lannett Co by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after buying an additional 2,513 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Lannett Co by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after buying an additional 300 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Lannett Co by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,870 shares of the company’s stock valued at $154,000 after buying an additional 482 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Lannett Co by 49.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after buying an additional 3,061 shares in the last quarter. Finally, Airain ltd acquired a new position in shares of Lannett Co during the first quarter valued at about $205,000. 95.69% of the stock is currently owned by 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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