Lannett (NYSE:LCI) Earns Hold Rating from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Lannett (NYSE:LCIGet Rating) in a report released on Wednesday. The firm set a “hold” rating on the stock.

Lannett Trading Up 2.2 %

LCI stock opened at $0.53 on Wednesday. Lannett has a 1-year low of $0.43 and a 1-year high of $3.33. The firm has a market cap of $22.84 million, a P/E ratio of -0.09 and a beta of 1.00. The business’s 50 day moving average is $0.55 and its 200-day moving average is $0.62.

Lannett (NYSE:LCIGet Rating) last announced its earnings results on Wednesday, August 24th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. The business had revenue of $74.19 million during the quarter, compared to analyst estimates of $74.65 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. Sell-side analysts forecast that Lannett will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LCI. Renaissance Technologies LLC lifted its stake 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 valued at $1,815,000 after purchasing an additional 247,566 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 during the period. Values First Advisors Inc. acquired a new position in shares of Lannett in the 4th quarter valued at $297,000. Atria Wealth Solutions Inc. increased its position in shares of Lannett by 115.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 304,700 shares of the company’s stock valued at $177,000 after buying an additional 163,110 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Lannett by 83.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 337,490 shares of the company’s stock valued at $196,000 after buying an additional 153,445 shares in the last quarter. Institutional investors and hedge funds own 44.11% of the company’s stock.

About Lannett

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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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