Lannett (NYSE:LCI) Share Price Crosses Above Fifty Day Moving Average of $0.49

Lannett Company, Inc. (NYSE:LCIGet Rating)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.49 and traded as high as $0.77. Lannett shares last traded at $0.71, with a volume of 232,925 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Lannett in a report on Thursday. They issued a “hold” rating on the stock.

Lannett Trading Up 3.9 %

The firm has a market cap of $30.54 million, a price-to-earnings ratio of -0.12 and a beta of 0.94. The stock’s 50 day moving average is $0.49 and its 200 day moving average is $0.53.

Lannett (NYSE:LCIGet Rating) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.04. The business had revenue of $75.08 million for the quarter, compared to analyst estimates of $68.23 million. On average, equities research analysts predict that Lannett Company, Inc. will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Lannett

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Lannett by 12.0% in the first quarter. Renaissance Technologies LLC now owns 2,303,103 shares of the company’s stock worth $1,815,000 after purchasing an additional 247,566 shares during the period. Vanguard Group Inc. lifted its position in shares of Lannett by 5.2% during the third quarter. Vanguard Group Inc. now owns 740,875 shares of the company’s stock valued at $333,000 after purchasing an additional 36,690 shares in the last quarter. Staley Capital Advisers Inc. lifted its position in shares of Lannett by 10.7% during the second quarter. Staley Capital Advisers Inc. now owns 515,145 shares of the company’s stock valued at $299,000 after purchasing an additional 50,000 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Lannett by 83.4% in the second quarter. Assenagon Asset Management S.A. now owns 337,490 shares of the company’s stock worth $196,000 after acquiring an additional 153,445 shares during the period. Finally, Invesco Ltd. raised its position in Lannett by 152.7% in the first quarter. Invesco Ltd. now owns 334,876 shares of the company’s stock worth $264,000 after acquiring an additional 202,360 shares during the period. Institutional investors own 44.11% of the company’s stock.

Lannett Company Profile

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for Lannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett and related companies with MarketBeat.com's FREE daily email newsletter.