Lannett Co Inc (LCI) Rating Increased to Buy at Zacks Investment Research

Lannett Co Inc (NYSE:LCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $25.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.11% from the stock’s previous close.

According to Zacks, “Lannett, Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition, the Company contract manufactures and private labels pharmaceutical products for other companies. “

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets initiated coverage on shares of Lannett Co in a report on Monday, May 1st. They issued a “market perform” rating and a $29.00 price objective on the stock. ValuEngine lowered shares of Lannett Co from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a report on Thursday, June 8th. Roth Capital set a $27.00 price objective on shares of Lannett Co and gave the company a “buy” rating in a report on Tuesday, May 2nd. Finally, Robert W. Baird restated an “outperform” rating and issued a $18.00 price objective on shares of Lannett Co in a report on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Shares of Lannett Co (NYSE LCI) opened at 22.50 on Tuesday. The company’s market cap is $837.68 million. Lannett Co has a 1-year low of $16.75 and a 1-year high of $39.99. The stock’s 50 day moving average is $20.02 and its 200 day moving average is $21.78.

Lannett Co (NYSE:LCI) last released its earnings results on Tuesday, May 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.10. The business had revenue of $165.72 million for the quarter, compared to analyst estimates of $170.28 million. Lannett Co had a positive return on equity of 22.13% and a negative net margin of 0.41%. On average, analysts predict that Lannett Co will post $3.21 earnings per share for the current year.

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Large investors have recently made changes to their positions in the company. Bowling Portfolio Management LLC increased its position in shares of Lannett Co by 62.8% in the first quarter. Bowling Portfolio Management LLC now owns 31,025 shares of the company’s stock valued at $693,000 after buying an additional 11,967 shares during the last quarter. Adams Diversified Equity Fund Inc. increased its position in shares of Lannett Co by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 29,100 shares of the company’s stock valued at $650,000 after buying an additional 800 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Lannett Co by 14.5% in the first quarter. Russell Investments Group Ltd. now owns 493,196 shares of the company’s stock valued at $11,023,000 after buying an additional 62,526 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Lannett Co by 33.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,651 shares of the company’s stock valued at $417,000 after buying an additional 4,625 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Lannett Co by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the company’s stock valued at $268,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 95.20% of the company’s stock.

About Lannett Co

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.

Analyst Recommendations for Lannett Co (NYSE:LCI)

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