Shares of Lannett Company, Inc. (NYSE:LCI) dropped 7.1% on Friday . The stock traded as low as $5.64 and last traded at $5.66. Approximately 1,542,446 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 1,502,935 shares. The stock had previously closed at $6.09.
A number of brokerages have commented on LCI. ValuEngine raised shares of Lannett from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. SunTrust Banks began coverage on shares of Lannett in a research report on Tuesday, March 19th. They set a “hold” rating and a $9.00 price target on the stock. Finally, Zacks Investment Research raised shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.45.
The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.12 and a current ratio of 2.88. The stock has a market cap of $222.57 million, a P/E ratio of 1.83 and a beta of 2.40.
In other news, Director Jeffrey Farber purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $5.80 per share, with a total value of $29,000.00. Following the completion of the transaction, the director now owns 2,101,054 shares of the company’s stock, valued at approximately $12,186,113.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 18,000 shares of company stock worth $118,050 in the last ninety days. Insiders own 12.57% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in LCI. Bank of New York Mellon Corp raised its holdings in shares of Lannett by 4.6% during the third quarter. Bank of New York Mellon Corp now owns 662,422 shares of the company’s stock valued at $3,146,000 after purchasing an additional 29,089 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Lannett by 582.7% during the third quarter. JPMorgan Chase & Co. now owns 684,622 shares of the company’s stock valued at $3,251,000 after purchasing an additional 584,343 shares during the period. Teachers Advisors LLC raised its holdings in shares of Lannett by 64.9% during the third quarter. Teachers Advisors LLC now owns 95,266 shares of the company’s stock valued at $453,000 after purchasing an additional 37,492 shares during the period. Legal & General Group Plc raised its holdings in shares of Lannett by 18.2% during the third quarter. Legal & General Group Plc now owns 78,375 shares of the company’s stock valued at $374,000 after purchasing an additional 12,050 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Lannett by 15.2% during the fourth quarter. State of Alaska Department of Revenue now owns 11,478 shares of the company’s stock valued at $56,000 after purchasing an additional 1,515 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This report was originally published by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.tickerreport.com/banking-finance/4353210/lannett-lci-trading-down-7-1.html.
About Lannett (NYSE:LCI)
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.
Featured Story: What is the Bid-Ask Spread?
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.