Oppenheimer Maintains an 'Outperform' on Lannett Co (LCI); 2012 Ends Strong, Guidance Encouraging
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Price: $12.15 -0.33%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade LCI Now!
Oppenheimer maintains an 'Outperform' on Lannett Co (NYSE: LCI) price target of $6.00.
Analyst, Christopher Holterhoff, said, "On 9/6, LCI reported F4Q12 EPS of $0.05, above our $0.02 estimate owing to higher revenues of $35.7M vs. our $33.2M estimate. We highlight overall positive FY2013 guidance, including top-line guidance of $132M-$136M (vs. our ~$135.9M estimate) and operating expenses between $39M and $43M (vs. our $40.6M estimate). Additionally, LCI expects gross margins to expand to ~35% (from 32% currently). Notably, LCI has 14 product applications pending at the FDA and an additional 40 products in development. We expect LCI to file for approval for C-Topical by end of FY2013 and for generic Thalomid by end of CY2013. We are adjusting our estimates to reflect updated guidance."
FY13 EPS estimate lowered from $0.29 to $0.14 and FY14 from $0.38 to $0.37.
For an analyst ratings summary and ratings history on Lannett Co click here. For more ratings news on Lannett Co click here.
Shares of Lannett Co closed at $5.05 yesterday, with a 52 week range of $3.41-$5.29.
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Analyst, Christopher Holterhoff, said, "On 9/6, LCI reported F4Q12 EPS of $0.05, above our $0.02 estimate owing to higher revenues of $35.7M vs. our $33.2M estimate. We highlight overall positive FY2013 guidance, including top-line guidance of $132M-$136M (vs. our ~$135.9M estimate) and operating expenses between $39M and $43M (vs. our $40.6M estimate). Additionally, LCI expects gross margins to expand to ~35% (from 32% currently). Notably, LCI has 14 product applications pending at the FDA and an additional 40 products in development. We expect LCI to file for approval for C-Topical by end of FY2013 and for generic Thalomid by end of CY2013. We are adjusting our estimates to reflect updated guidance."
FY13 EPS estimate lowered from $0.29 to $0.14 and FY14 from $0.38 to $0.37.
For an analyst ratings summary and ratings history on Lannett Co click here. For more ratings news on Lannett Co click here.
Shares of Lannett Co closed at $5.05 yesterday, with a 52 week range of $3.41-$5.29.
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