ValuEngine Upgrades Lannett (LCI) to Hold

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ValuEngine upgraded shares of Lannett (NYSE:LCI) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other research firms have also issued reports on LCI. Zacks Investment Research raised Lannett from a hold rating to a strong-buy rating and set a $9.75 price target on the stock in a research report on Saturday, February 9th. SunTrust Banks assumed coverage on Lannett in a research report on Tuesday, March 19th. They set a hold rating and a $9.00 price target on the stock. Finally, Raymond James reissued a hold rating on shares of Lannett in a research report on Thursday, December 13th. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $19.45.

Shares of LCI opened at $7.19 on Friday. Lannett has a 52-week low of $3.33 and a 52-week high of $17.58. The company has a market capitalization of $281.32 million, a price-to-earnings ratio of 2.32 and a beta of 2.48. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 2.29.

Lannett (NYSE:LCI) last posted its quarterly earnings results on Wednesday, February 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.18. The business had revenue of $193.70 million for the quarter, compared to analyst estimates of $162.51 million. Lannett had a positive return on equity of 22.88% and a negative net margin of 39.44%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. Sell-side analysts expect that Lannett will post 2.14 earnings per share for the current fiscal year.

In related news, Director Patrick G. Lepore acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was purchased at an average cost of $8.93 per share, for a total transaction of $223,250.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Crew acquired 4,000 shares of the stock in a transaction that occurred on Monday, February 11th. The shares were bought at an average price of $8.48 per share, with a total value of $33,920.00. Following the completion of the purchase, the chief executive officer now owns 45,988 shares in the company, valued at $389,978.24. The disclosure for this purchase can be found here. Corporate insiders own 12.57% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its stake in Lannett by 15.2% during the 4th quarter. State of Alaska Department of Revenue now owns 11,478 shares of the company’s stock worth $56,000 after buying an additional 1,515 shares during the last quarter. Advisor Partners LLC bought a new position in Lannett during the 4th quarter worth $60,000. Financial Gravity Companies Inc. bought a new position in Lannett during the 4th quarter worth $60,000. Oregon Public Employees Retirement Fund bought a new position in Lannett during the 4th quarter worth $64,000. Finally, Brave Asset Management Inc. bought a new position in Lannett during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Lannett Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Lannett (NYSE:LCI)

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