Lannett (LCI) Rating Lowered to Strong Sell at ValuEngine

Lannett (LCI) Rating Lowered to Strong Sell at ValuEngine

Lannett (NYSE:LCI) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Several other research analysts have also recently weighed in on the company. SunTrust Banks initiated coverage on Lannett in a research report on Tuesday, March 19th. They set a “hold” rating and a $9.00 price objective for the company. Zacks Investment Research raised Lannett from a “hold” rating to a “strong-buy” rating and set a $9.75 price objective for the company in a research report on Saturday, February 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.45.

LCI stock opened at $5.61 on Tuesday. The company has a quick ratio of 2.12, a current ratio of 2.88 and a debt-to-equity ratio of 2.10. The stock has a market cap of $218.25 million, a PE ratio of 1.81 and a beta of 2.40. Lannett has a fifty-two week low of $3.33 and a fifty-two week high of $17.15.

Lannett (NYSE:LCI) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $172.79 million during the quarter, compared to analysts’ expectations of $155.55 million. Lannett had a positive return on equity of 25.79% and a negative net margin of 39.84%. Lannett’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, equities research analysts anticipate that Lannett will post 2.18 EPS for the current fiscal year.

In related news, Director Jeffrey Farber bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $5.80 per share, for a total transaction of $29,000.00. Following the completion of the acquisition, the director now owns 2,101,054 shares of the company’s stock, valued at approximately $12,186,113.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 18,000 shares of company stock worth $118,050 in the last quarter. 12.57% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors bought a new stake in Lannett during the first quarter worth about $39,000. Financial Gravity Wealth Inc. bought a new stake in Lannett during the first quarter worth about $44,000. Investors Research Corp bought a new stake in Lannett during the first quarter worth about $54,000. BNP Paribas Arbitrage SA raised its holdings in Lannett by 105.4% during the first quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock worth $55,000 after acquiring an additional 3,615 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Lannett by 15.2% during the fourth quarter. State of Alaska Department of Revenue now owns 11,478 shares of the company’s stock worth $56,000 after acquiring an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 86.16% 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.

Read More: What do investors mean by earnings per share?

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