Stock to Watch – Lannett Company, Inc. (NYSE:LCI)

Lannett Company, Inc. (NYSE:LCI) stock reported 4.09% return for the recent month and disclosed 3.12% return in 3-month period. The stock grabbed -37.90% return over last 6-months and -17.66% return in yearly time period. To measure stock performance since start of the year, it resulted a change of -28.66%. LCI demonstrated 25.86% move opposition to 12-month low and unveiled a move of -45.47% versus to 12-month high. The stock changed position at -1.78% to closing price of $16.55 in recent trading session. The stock average trading capacity stands with 667.06K shares and relative volume is now at 0.51.

Lannett Company, Inc. (NYSE:LCI) today announced that it received approval from the U.S. Food and Drug Administration (FDA) of its Abbreviated New Drug Application (ANDA) for Levofloxacin Oral Solution USP, 25 mg/mL, the therapeutic equivalent to the reference listed drug, Levaquin® Oral Solution, 25 mg/mL, of Janssen Pharmaceuticals, Inc. For the 12 months ended April 2018, total U.S. sales of Levofloxacin Oral Solution USP, 25 mg/mL, was approximately $6 million, according to IMS.

Tim Crew, chief executive officer of Lannett said “Our ANDA for Levofloxacin Oral Solution, a paragraph IV product, was approved three weeks ahead of the Target Action Date”. “While the commercial opportunity for our Levofloxacin product is modest, the expected near-term launch is further evidence of our growing operational effectiveness. We continue to make progress unlocking the value of our many approved products pending launch and expect to announce additional product launches in the coming months.”

The stock’s Average True Range (ATR) is currently standing at 0.74. Beta factor is now at 2.49. The stock has RSI reading of 55.6. Analysts have assigned their consensus opinion on this stock with rating of 2.5 on scale of 1 to 5.

Category – Hot Stocks

Mark Wilbanks studied a business degree majoring in finance and security analysis. He has a deep understanding of both technical and fundamental forms of analysis, he deeply believes that it makes a lot more sense for average investors to understand fundamental analysis, which he believes anyone can learn. Mark has over 10 years of experience as a professional journalist, writer and an editor. He holds a bachelor’s degree in International Business from University of Melbourne. He writes articles about hot stocks, dividend growth investing, options trading, investment decisions, stock selection, portfolio management, and passive income generation. Mark primarily reports on Hot Stocks category.

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