BidaskClub Downgrades Lannett Co Inc (NYSE:LCI) to Hold

BidaskClub cut shares of Lannett Co Inc (NYSE:LCI) from a buy rating to a hold rating in a report released on Monday, July 24th.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Lannett Co from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research note on Tuesday, July 18th. Deutsche Bank AG restated a hold rating and issued a $23.00 price objective (up previously from $22.00) on shares of Lannett Co in a research note on Monday, July 17th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Lannett Co in a research note on Thursday, June 8th. ValuEngine downgraded shares of Lannett Co from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Roth Capital set a $27.00 price target on shares of Lannett Co and gave the stock a buy rating in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Lannett Co presently has an average rating of Hold and an average price target of $27.50.

Lannett Co (LCI) traded up 1.55% during trading on Monday, hitting $16.40. 769,048 shares of the company were exchanged. Lannett Co has a 12 month low of $15.75 and a 12 month high of $39.99. The company’s market capitalization is $610.57 million. The company has a 50-day moving average of $20.02 and a 200-day moving average of $21.30.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in Lannett Co by 4.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,570 shares of the company’s stock worth $343,000 after buying an additional 620 shares in the last quarter. FMR LLC acquired a new position in Lannett Co during the fourth quarter worth about $7,784,000. Ameriprise Financial Inc. boosted its position in Lannett Co by 8.8% in the first quarter. Ameriprise Financial Inc. now owns 747,062 shares of the company’s stock worth $16,698,000 after buying an additional 60,675 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Lannett Co by 33.0% in the first quarter. Janney Montgomery Scott LLC now owns 18,651 shares of the company’s stock worth $417,000 after buying an additional 4,625 shares in the last quarter. Finally, Swiss National Bank boosted its position in Lannett Co by 3.8% in the first quarter. Swiss National Bank now owns 48,800 shares of the company’s stock worth $1,091,000 after buying an additional 1,800 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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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