Nexthera Capital Lp adds Lannett Company (LCI) to its portfolio

Lannett Company (LCI) : Nexthera Capital Lp added new position in Lannett Company during the most recent quarter end. The investment management firm now holds 150,000 shares of Lannett Company which is valued at $2.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.Lannett Company makes up approximately 3.11% of Nexthera Capital Lp’s portfolio.

Other Hedge Funds, Including , Foresters Investment Management Company boosted its stake in LCI in the latest quarter, The investment management firm added 3,200 additional shares and now holds a total of 183,200 shares of Lannett Company which is valued at $3.5 Million. Lannett Company makes up approx 0.07% of Foresters Investment Management Company’s portfolio. Mosaic Family Wealth sold out all of its stake in LCI during the most recent quarter. The investment firm sold 52 shares of LCI which is valued $986. Nine Chapters Capital Management added LCI to its portfolio by purchasing 76,900 company shares during the most recent quarter which is valued at $1.5 Million. Lannett Company makes up approx 0.13% of Nine Chapters Capital Management’s portfolio.Swiss National Bank boosted its stake in LCI in the latest quarter, The investment management firm added 8,300 additional shares and now holds a total of 44,900 shares of Lannett Company which is valued at $799,669.Dupont Capital Management Corp reduced its stake in LCI by selling 63,029 shares or 61.64% in the most recent quarter. The Hedge Fund company now holds 39,232 shares of LCI which is valued at $752,470. Lannett Company makes up approx 0.02% of Dupont Capital Management Corp’s portfolio.

Lannett Company opened for trading at $23.19 and hit $23.68 on the upside on Wednesday, eventually ending the session at $23.4, with a gain of 1.30% or 0.3 points. The heightened volatility saw the trading volume jump to 7,29,467 shares. Company has a market cap of $860 M.

On the company’s financial health, Lannett Company reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.63. The company had revenue of $163.70 million for the quarter, 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 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.

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