Lannett (NYSE:LCI) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Lannett (NYSE:LCI) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Lannett Company manufactures and distributes high quality affordable generic medications that are the therapeutic equivalent of the brand-name pharmaceuticals. Their portfolio consists of numerous products across a wide range of therapeutic areas. Lannett believes that their ability to select viable products for development, efficiently develop such products, including obtaining any applicable regulatory approvals, vertically integrate themselves into certain specialty markets and achieve economies in production are all critical for their success in the generic pharmaceutical industry in which they operate. Lannett Company, Inc., continues to dedicate significant capital toward developing new products as they believe their success is linked to their ability to continually introduce new generic products into the marketplace. “

NYSE:LCI opened at $5.30 on Wednesday. Lannett has a twelve month low of $4.89 and a twelve month high of $10.70. The firm has a market capitalization of $219.43 million, a price-to-earnings ratio of -7.36 and a beta of 1.31. The company has a quick ratio of 1.30, a current ratio of 2.02 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average price is $6.15 and its two-hundred day moving average price is $6.49.

Lannett (NYSE:LCI) last released its earnings results on Tuesday, February 2nd. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Lannett had a negative net margin of 5.09% and a positive return on equity of 12.62%. The business had revenue of $133.92 million during the quarter, compared to analysts’ expectations of $130.00 million. During the same period last year, the business earned $0.27 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Lannett will post 0.54 earnings per share for the current year.

In other news, Director David A. Drabik sold 33,445 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $6.08, for a total value of $203,345.60. Following the sale, the director now directly owns 51,513 shares of the company’s stock, valued at approximately $313,199.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.63% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Vantage Consulting Group Inc acquired a new position in shares of Lannett in the fourth quarter valued at $66,000. Virtu Financial LLC acquired a new position in Lannett in the 4th quarter valued at about $73,000. Metropolitan Life Insurance Co NY acquired a new position in Lannett in the 1st quarter valued at about $77,000. Guggenheim Capital LLC bought a new position in Lannett in the 3rd quarter valued at about $90,000. Finally, Janney Montgomery Scott LLC lifted its position in Lannett by 38.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 18,000 shares of the company’s stock worth $117,000 after acquiring an additional 5,000 shares during the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.

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, nasal, patch, foam, buccal, sublingual, suspensions, soft gel, injectable, and oral dosages.

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