Lannett Company, Inc. (NYSE:LCI) shares fell 5.2% on Friday . The company traded as low as $15.45 and last traded at $15.65. 1,301,582 shares changed hands during mid-day trading, an increase of 78% from the average session volume of 732,870 shares. The stock had previously closed at $16.50.
A number of brokerages have recently weighed in on LCI. Zacks Investment Research lowered Lannett from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. Oppenheimer reissued a “hold” rating on shares of Lannett in a report on Monday, December 11th. ValuEngine raised Lannett from a “hold” rating to a “buy” rating in a report on Saturday, November 25th. Goldman Sachs began coverage on Lannett in a report on Wednesday, January 24th. They issued a “neutral” rating and a $21.00 price objective on the stock. Finally, BMO Capital Markets cut their price objective on Lannett from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Lannett currently has an average rating of “Hold” and an average price target of $20.83.
The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 1.77. The company has a market capitalization of $628.20, a P/E ratio of 12.32, a P/E/G ratio of 1.06 and a beta of 2.63.
In other news, major shareholder David Farber sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the sale, the insider now owns 4,171,269 shares in the company, valued at $104,323,437.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.72% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of LCI. Neuberger Berman Group LLC purchased a new position in Lannett during the third quarter worth approximately $188,000. Municipal Employees Retirement System of Michigan boosted its position in Lannett by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 11,040 shares of the company’s stock worth $204,000 after purchasing an additional 4,100 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Lannett during the third quarter worth approximately $212,000. Teacher Retirement System of Texas purchased a new position in Lannett during the fourth quarter worth approximately $223,000. Finally, Unison Advisors LLC purchased a new position in Lannett during the fourth quarter worth approximately $273,000. Institutional investors own 98.40% of the company’s stock.
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.
Receive News & Ratings for Lannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett and related companies with MarketBeat.com's FREE daily email newsletter.