StockNews.com started coverage on shares of Lannett (NYSE:LCI – Get Rating) in a report released on Tuesday. The brokerage set a "hold" rating on the stock.

Lannett Price Performance

Lannett has a 1-year low of $0.64 and a 1-year high of $3.72. The firm has a 50 day simple moving average of $1.70 and a 200 day simple moving average of $2.06. The stock has a market capitalization of $7.38 million, a price-to-earnings ratio of -0.04 and a beta of 0.95.

Lannett (NYSE:LCI – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.64) by $0.28. The firm had revenue of $80.89 million during the quarter, compared to analyst estimates of $72.98 million. As a group, sell-side analysts anticipate that Lannett will post -6.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lannett

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in Lannett in the first quarter valued at $102,000. Renaissance Technologies LLC lifted its stake in Lannett by 12.0% in the first quarter. Renaissance Technologies LLC now owns 2,303,103 shares of the company's stock valued at $1,815,000 after buying an additional 247,566 shares during the last quarter. Invesco Ltd. lifted its stake in Lannett by 152.7% in the first quarter. Invesco Ltd. now owns 334,876 shares of the company's stock valued at $264,000 after buying an additional 202,360 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Lannett in the first quarter valued at $112,000. Finally, Goldman Sachs Group Inc. lifted its stake in Lannett by 88.2% in the second quarter. Goldman Sachs Group Inc. now owns 43,408 shares of the company's stock valued at $25,000 after buying an additional 20,348 shares during the last quarter. Institutional investors and hedge funds own 40.28% of the company's stock.

Lannett Company Profile

(Get Rating)

Lannett Co, Inc engages in the development, manufacture, marketing, and distribution of generic pharmaceutical products. It offers products in different forms including capsules, tablets, liquids, powders, and sprays. The company was founded in 1942 and is headquartered in Trevose, PA.

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