Lannett (NYSE:LCI) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Lannett (NYSE:LCI – Get Rating) in a research report issued on Sunday. The brokerage set a “hold” rating on the stock.

Lannett Price Performance

NYSE:LCI opened at $0.92 on Friday. The firm has a market cap of $9.91 million, a PE ratio of -0.05 and a beta of 0.95. The firm has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.14. Lannett has a 1-year low of $0.86 and a 1-year high of $3.72.

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Lannett (NYSE:LCI – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported ($1.36) EPS for the quarter, topping the consensus estimate of ($1.64) by $0.28. The firm had revenue of $80.89 million during the quarter, compared to analysts’ expectations of $72.98 million. As a group, sell-side analysts expect that Lannett will post -6.16 earnings per share for the current fiscal year.

Institutional Trading of Lannett

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCI. Renaissance Technologies LLC raised its position in shares of Lannett by 12.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,303,103 shares of the company’s stock worth $1,815,000 after buying an additional 247,566 shares during the period. Vanguard Group Inc. increased its stake in Lannett by 5.2% during the third quarter. Vanguard Group Inc. now owns 740,875 shares of the company’s stock worth $333,000 after acquiring an additional 36,690 shares during the last quarter. Staley Capital Advisers Inc. raised its holdings in shares of Lannett by 19.4% in the 4th quarter. Staley Capital Advisers Inc. now owns 615,145 shares of the company’s stock worth $320,000 after purchasing an additional 100,000 shares during the period. Invesco Ltd. lifted its stake in shares of Lannett by 152.7% in the 1st quarter. Invesco Ltd. now owns 334,876 shares of the company’s stock valued at $264,000 after purchasing an additional 202,360 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of Lannett by 115.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 304,700 shares of the company’s stock worth $177,000 after purchasing an additional 163,110 shares during the period. Hedge funds and other institutional investors own 40.28% of the company’s stock.

About Lannett

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Lannett Co, Inc engages in the development, manufacture, marketing, and distribution of generic pharmaceutical products. It offers products in different forms including capsules, tablets, liquids, powders, and sprays. The company was founded in 1942 and is headquartered in Trevose, PA.

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