Lannett Target of Unusually Large Options Trading (LCI)

Lannett Company, Inc. (NYSE:LCI) was the target of unusually large options trading on Thursday. Stock investors acquired 3,178 call options on the stock. This represents an increase of 2,092% compared to the typical volume of 145 call options.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Lannett from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. TheStreet cut Lannett from a “c-” rating to a “d+” rating in a research note on Friday, September 14th. Raymond James cut Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 price objective for the company. in a research note on Monday, August 20th. Craig Hallum cut Lannett from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Finally, BMO Capital Markets decreased their price objective on Lannett from $19.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, August 20th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $24.10.

In related news, Director Patrick G. Lepore acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was purchased at an average cost of $5.34 per share, for a total transaction of $133,500.00. Following the purchase, the director now directly owns 67,895 shares of the company’s stock, valued at approximately $362,559.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.72% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Affinity Investment Advisors LLC increased its position in Lannett by 16.1% during the 2nd quarter. Affinity Investment Advisors LLC now owns 29,501 shares of the company’s stock valued at $401,000 after buying an additional 4,092 shares in the last quarter. Alps Advisors Inc. increased its position in Lannett by 8.7% during the 2nd quarter. Alps Advisors Inc. now owns 55,166 shares of the company’s stock valued at $750,000 after buying an additional 4,409 shares in the last quarter. First Trust Advisors LP increased its position in Lannett by 17.4% during the 2nd quarter. First Trust Advisors LP now owns 34,463 shares of the company’s stock valued at $469,000 after buying an additional 5,099 shares in the last quarter. Pinnacle Associates Ltd. increased its position in Lannett by 53.5% during the 2nd quarter. Pinnacle Associates Ltd. now owns 16,435 shares of the company’s stock valued at $224,000 after buying an additional 5,725 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Lannett by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 232,053 shares of the company’s stock valued at $3,724,000 after buying an additional 6,563 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors.

Shares of NYSE:LCI opened at $5.84 on Friday. Lannett has a 1 year low of $3.33 and a 1 year high of $30.35. The stock has a market cap of $166.50 million, a P/E ratio of 1.88 and a beta of 2.01. The company has a current ratio of 2.62, a quick ratio of 1.92 and a debt-to-equity ratio of 1.29.

Lannett (NYSE:LCI) last announced its earnings results on Wednesday, November 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Lannett had a return on equity of 19.92% and a net margin of 4.19%. The company had revenue of $155.10 million for the quarter, compared to analyst estimates of $145.79 million. During the same period in the prior year, the company posted $0.60 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts expect that Lannett will post 2.1 EPS for the current fiscal year.

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About Lannett

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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