Lannett (NYSE:LCI) Coverage Initiated at StockNews.com

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

Lannett Stock Performance

The firm has a market capitalization of $7.38 million, a price-to-earnings ratio of -0.04 and a beta of 0.95. Lannett has a 12-month low of $0.64 and a 12-month high of $3.72. The business has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $2.04.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position 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 buying an additional 247,566 shares during the last quarter. Vanguard Group Inc. grew its position in Lannett by 5.2% in the third quarter. Vanguard Group Inc. now owns 740,875 shares of the company’s stock worth $333,000 after buying an additional 36,690 shares during the last quarter. Staley Capital Advisers Inc. boosted its stake in 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. boosted its stake in 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 during the period. Finally, Atria Wealth Solutions Inc. boosted its stake in Lannett by 115.2% in 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. Institutional investors and hedge funds own 40.28% of the company’s stock.

Lannett Company Profile

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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.