Lannett Company (LCI) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.75 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.63. The company posted revenue of $163.70 million in the period, compared to analysts expectations of $161.62 million. The company’s revenue was up 64.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.
Many Wall Street Analysts have commented on Lannett Company. Shares were Downgraded by Canaccord Genuity on Mar 24, 2016 to ” Sell” and Lowered the Price Target to $ 18 from a previous price target of $28 .Lannett Company was Upgraded by Craig Hallum to ” Buy” on Feb 4, 2016.
Lannett Company closed down -0.51 points or -2.66% at $18.67 with 10,70,893 shares getting traded on Monday. Post opening the session at $19.23, the shares hit an intraday low of $17.9149 and an intraday high of $19.23 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 2, 2016, Robert Ehlinger (VP of Logistics and CIO) sold 69,247 shares at $25.41 per share price. According to the SEC, on Feb 8, 2016, Albert Iii Paonessa (director) purchased 2,500 shares at $24.57 per share price. On Feb 8, 2016, Martin P Galvan (CFO) purchased 3,000 shares at $24.65 per share price, according to the Form-4 filing with the securities and exchange commission.
Lannett Company Inc. develops manufactures markets and distributes generic versions of brand pharmaceutical products. The Company’s products include Levothyroxine Sodium tablets Digoxin tablets Butalbital products Ursodiol capsules and pain management products. Levothyroxine Sodium tablets are produced and marketed with around 12 varying potencies. Digoxin tablets are produced and marketed with approximately two different potencies. It distributes around three products containing Butalbital. Ursodiol capsules are produced and marketed in 300 milligram capsules. The Company offers a range of pain management products such as Cocaine Topical Solution (C-Topical) Morphine Sulfate Oral Solution Hydromorphone hydrochloric acid (HCl) tablets and Codeine Sulfate tablets.