Lannett Co Inc (LCI) Lowered to “Strong Sell” at BidaskClub

Lannett Co Inc (NYSE:LCI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday, August 8th.

A number of other research firms also recently issued reports on LCI. Zacks Investment Research raised Lannett Co from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets started coverage on Lannett Co in a research note on Monday, May 1st. They issued a “market perform” rating and a $29.00 price objective on the stock. ValuEngine downgraded Lannett Co from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Roth Capital set a $27.00 price objective on Lannett Co and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Lannett Co in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.83.

Shares of Lannett Co (LCI) traded up 3.64% during mid-day trading on Tuesday, reaching $15.65. The company’s stock had a trading volume of 501,586 shares. The company’s 50-day moving average price is $19.31 and its 200-day moving average price is $21.16. Lannett Co has a 12-month low of $14.90 and a 12-month high of $39.99. The stock’s market capitalization is $582.65 million.

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Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its position in Lannett Co by 0.7% in the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Lannett Co by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the company’s stock worth $268,000 after buying an additional 200 shares during the last quarter. CS Mckee LP boosted its position in Lannett Co by 0.6% in the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund boosted its position in Lannett Co by 1.0% in the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after buying an additional 203 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Lannett Co by 0.4% in the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after buying an additional 244 shares during the last quarter. Institutional investors own 95.69% of the company’s stock.

Lannett Co Company Profile

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.

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