Lannett Target of Unusually Large Options Trading (LCI)

Lannett Company, Inc. (NYSE:LCI) was the recipient of unusually large options trading on Monday. Stock traders bought 5,765 call options on the stock. This is an increase of 1,094% compared to the average daily volume of 483 call options.

NYSE:LCI traded up $0.09 during trading hours on Wednesday, reaching $5.50. 748,700 shares of the company traded hands, compared to its average volume of 1,489,249. The stock has a market cap of $215.87 million, a PE ratio of 1.77 and a beta of 2.40. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.12 and a current ratio of 2.88. Lannett has a 1-year low of $3.33 and a 1-year high of $17.15.

Lannett (NYSE:LCI) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. Lannett had a positive return on equity of 25.79% and a negative net margin of 39.84%. The business had revenue of $172.79 million for the quarter, compared to analysts’ expectations of $155.55 million. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts predict that Lannett will post 2.19 earnings per share for the current fiscal year.

In other Lannett news, Director Jeffrey Farber acquired 10,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $6.85 per share, with a total value of $68,500.00. Following the transaction, the director now owns 2,096,054 shares in the company, valued at approximately $14,357,969.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 18,000 shares of company stock valued at $118,050 over the last three months. 12.57% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of LCI. BlackRock Inc. raised its position in shares of Lannett by 70.9% in the 4th quarter. BlackRock Inc. now owns 4,765,936 shares of the company’s stock worth $23,639,000 after buying an additional 1,976,599 shares during the period. JPMorgan Chase & Co. raised its position in shares of Lannett by 274.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,528,926 shares of the company’s stock worth $19,903,000 after buying an additional 1,853,436 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Lannett by 105.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,102,998 shares of the company’s stock worth $5,470,000 after buying an additional 565,198 shares during the period. Oxford Asset Management LLP purchased a new position in shares of Lannett in the 1st quarter worth $3,449,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of Lannett in the 4th quarter worth $2,082,000. Institutional investors and hedge funds own 82.07% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Lannett from a “hold” rating to a “strong-buy” rating and set a $9.75 target price for the company in a research note on Saturday, February 9th. SunTrust Banks began coverage on Lannett in a research note on Tuesday, March 19th. They set a “hold” rating and a $9.00 target price for the company. Finally, ValuEngine upgraded Lannett from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.45.

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Lannett Company Profile

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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