Oppenheimer Sticks to Its Hold Rating for Lannett


In a report released today, Christopher Liu from Oppenheimer maintained a Hold rating on Lannett (NYSE: LCI). The company’s shares closed yesterday at $13.85, close to its 52-week low of $13.80.

Liu observed:

“LCI reported F3Q18 results and provided a business update, which included a deal with ENDP bringing in 24 additional ANDAs and provided reaffirmation on the company’s focus on finding partnered products. We are encouraged by management’s pursuit of diversification and reduction of concentration risk in their current portfolio (levothyroxine-centric). We remain on the sidelines, however, as lowering gross margins, potential C-topical competition, and suspected levothyroxine entrants pose meaningful risk to the stock. Furthermore, LCI’s new product and C- topical launches may not be enough to offset base business losses. We would like to see further minimization of levothyroxine risk and material growth before jumping in.”

According to TipRanks.com, Liu is a 1-star analyst with an average return of 0.1% and a 50.0% success rate. Liu covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Zynerba Pharmaceuticals, and Teva Pharma.

Lannett has an analyst consensus of Moderate Buy, with a price target consensus of $28.

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The company has a one-year high of $30.35 and a one-year low of $13.80. Currently, Lannett has an average volume of 659.2K.

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Lannett Co., Inc. engages in the development, manufacture, market, and distribution of generic pharmaceutical products. The firm also manufactures oral dosage forms including, tablets and capsules.

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