Lannett (NYSE:LCI) was downgraded by analysts at Roth Capital from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.
LCI has been the subject of a number of other research reports. ValuEngine downgraded Lannett from a “hold” rating to a “sell” rating in a research report on Friday, April 27th. Zacks Investment Research upgraded Lannett from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Oppenheimer restated a “hold” rating on shares of Lannett in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Lannett currently has a consensus rating of “Hold” and an average price target of $22.00.
Shares of LCI stock traded down $7.93 on Monday, reaching $5.57. 309,776 shares of the stock were exchanged, compared to its average volume of 679,086. The company has a market cap of $515.09 million, a P/E ratio of 1.95 and a beta of 2.44. Lannett has a one year low of $11.90 and a one year high of $30.35. The company has a quick ratio of 1.91, a current ratio of 2.56 and a debt-to-equity ratio of 1.29.
In related news, VP Kevin Smith sold 11,667 shares of Lannett stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $16.51, for a total transaction of $192,622.17. Following the completion of the sale, the vice president now directly owns 30,125 shares of the company’s stock, valued at $497,363.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.72% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Cutler Group LP grew its stake in shares of Lannett by 204.8% during the second quarter. Cutler Group LP now owns 7,900 shares of the company’s stock worth $107,000 after purchasing an additional 15,436 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Lannett during the first quarter worth $139,000. Bank of Montreal Can acquired a new stake in shares of Lannett during the second quarter worth $168,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Lannett during the first quarter worth $181,000. Finally, Quantbot Technologies LP grew its stake in shares of Lannett by 473.7% during the first quarter. Quantbot Technologies LP now owns 12,368 shares of the company’s stock worth $198,000 after purchasing an additional 10,212 shares during the period.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.
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