UPDATE: Oppenheimer Upgraded Lannett Company and Set PT
Oppenheimer analyst Rohit Vanjani Upgraded Lannett (NYSE: LCI) from Perform to Outperform and set a $29 PT following Impax Labs price boost on generic digoxin.
Vanjani downgraded Lannett two days from Outperform to Perform and removed his $20 PT a mere two days ago. In Wednesday's note, the analyst cited the company's significant outperformance. Today's note focused on Oppenheimer's confidence that the LCI price boost won't be reverted as a competitor has followed suit. The $29 PT is $5 higher than Bloomberg's average PT data.
Lannet has quadrupled Year to Date versus the Russell 2000 Health Care (RGUSHS) which is up 42 percent.
Lannett closed at $21.50 on Thursday and is currently trading +11.3 percent.
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