Shares of Lannett Co Inc (LCI) Sees Large Outflow of Money

Lannett Co Inc (LCI): The stock had negative money flow to the tune of ($0.23 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $0.04 million, whereas, the outflow of money on downticks was $0.28 million and the ratio between the two was 0.16. The block trade had a negative net money flow of ($0.1 million). On the other hand, downticks amounted to $0.1 million of the traded value, which shows distribution in the stock by traders. Lannett Co Inc (LCI) closed with marginal gains of 36 cents to end the day at $29.21, an increase of 1.25% over the previous days close. The stock recorded 2.78% for the week.


Also, Deutsche Bank initiates coverage on Lannett Co Inc (NYSE:LCI). The rating major has initiated the coverage with hold rating on the shares. The rating by the firm was issued on June 29, 2016.

Lannett Co Inc (NYSE:LCI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.15 and $28.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.33, notching a gain of 5.13% for the day. The total traded volume was 1,103,323 . The stock had closed at $28.85 on the previous day.

The stock has recorded a 20-day Moving Average of 18.14% and the 50-Day Moving Average is 26.65%. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the officer (Chief Scientific Affairs) of Lannett Co Inc, Dedhiya Mahendra had purchased shares worth of $24,840 in a transaction dated on February 5, 2016. A total of 1,000 shares were purchased at a price of $24.84 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Lannett Company, Inc. develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Companys 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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