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

Equities researchers at StockNews.com started coverage on shares of Lannett (NYSE:LCI – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the stock.

Lannett Stock Performance

Lannett stock opened at $0.62 on Thursday. The stock has a market capitalization of $26.02 million, a price-to-earnings ratio of -0.11 and a beta of 0.95. Lannett has a 52-week low of $0.39 and a 52-week high of $1.64. The stock’s 50 day moving average price is $0.61 and its two-hundred day moving average price is $0.55.

Lannett (NYSE:LCI – Get Rating) last posted its quarterly 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 the consensus estimate of $68.23 million. On average, equities research analysts forecast that Lannett will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Lannett

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Lannett by 88.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 43,408 shares of the company’s stock worth $25,000 after purchasing an additional 20,348 shares in the last quarter. Bailard Inc. bought a new position in shares of Lannett in the 2nd quarter worth $40,000. Acadian Asset Management LLC bought a new position in shares of Lannett in the 1st quarter worth $102,000. Atria Wealth Solutions Inc. bought a new position in shares of Lannett in the 1st quarter worth $112,000. Finally, Invesco Ltd. lifted its holdings in shares of Lannett by 152.7% in the 1st quarter. Invesco Ltd. now owns 334,876 shares of the company’s stock worth $264,000 after purchasing an additional 202,360 shares in the last quarter. 40.28% of the stock is currently owned by institutional investors.

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.