Oppenheimer Maintains Outperform On Lannett Following Management Meetings
In a research report issued today, Oppenheimer analyst Rohit Vanjani maintained an Outperform rating on Lannett Company (NYSE:LCI) and slightly raised his price target to $53 (from $51), following investor meetings with Lannett’s management, including CEO Arthur Bedrosian and CFO Martin Galvan.
Vanjani said, “Much of the focus of the meetings centered around Lannett’s long-term strategy, and its ability to bridge the gap from the current favorable pricing window to Lannett’s anticipated transition to controlled substances products. However, we were also able to glean some information on near-term catalysts. Based on the meetings, prescription data, and our consultant checks, we continue to believe that Lannett’s shares present a favorable risk/reward opportunity. Additionally, we are slightly increasing our price target on shares of Lannett based on added confidence in the F1Q15 results.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rohit Vanjani has a total average return of 23.7% and a 60.0% success rate. Vanjani has a 42.2% average return when recommending LCI, and is ranked #1004 out of 3340 analysts.