Stocks Turn Active on Retreated Views: Lannett Company (NYSE:LCI), Praxair (NYSE:PX)

Lannett Company, Inc. (NYSE:LCI) [Trend Analysis] retains strong position in active trade, as shares scoring 1.68% to $24.20 in a active trade session, while looking at the shares volume, around 850865 shares have changed hands in this session. Lannett Company, Inc. (LCI) reported that it received approval from the U.S. Food and Drug Administration (FDA) of its Supplemental New Drug Application (sNDA) for Morphine Sulfate Oral Solution CII, color and flavor added, 20 mg/mL. According to IMS, total U.S. sales for the 12 months ended October 2016 of Morphine Sulfate Oral Solution, at Average Wholesale Price (AWP) were approximately $22 million.

“This supplemental approval allows us to extend our Morphine Sulfate Oral Solution offering with a product that is preferred by a key section of the market,” said Arthur Bedrosian, chief executive officer of Lannett.”

Adding color to Morphine Sulfate Oral Solution is a feature important to healthcare providers and the addition of flavoring agents makes the medication more palatable for patients. We anticipate launching our Morphine Sulfate Oral Solution CII, the eleventh product approval we have received in calendar 2016, shortly. Our product will be accessible in calibrated bottles and include a calibrated oral dispensing device.” The firm has institutional ownership of 80.70%, while insider ownership included 14.10%. LCI attains analyst recommendation of 2.30 with week’s performance of -2.46%. Investors looking further ahead will note that the Price to next year’s EPS is -5.93%.

Shares of Praxair, Inc. (NYSE:PX) [Trend Analysis] swings enthusiastically in regular trading session, it a gain of 0.42% to close at $123.00. Praxair, Inc. (PX) reported that it has started up its carbon dioxide purification and liquefaction plant at Delaware City Refining Company’s facility in Delaware City, Delaware. The 450-ton-per-day plant is producing food and beverage quality liquid carbon dioxide for distribution to the Northeastern U.S. merchant market.

In 2015, Praxair signed a long-term contract with Delaware City Refining to purchase crude carbon dioxide from the refinery, further strengthening Praxair’s supply position in the region. The company also operates carbon dioxide purification facilities in Virginia, West Virginia and Canada that supply the Northeast.

Additionally, Praxair is building a dry ice facility on the site that will be capable of producing approximately 120 tons per day of product for the region. The facility is expected to be completed in early 2017. Moving forward to saw long-term intention, the experts calculate Return on Investment of 12.50%. The stock is going forward its fifty-two week low with 32.11% and lagging behind from its 52-week high price with -1.19%. PX last month stock price volatility remained 1.60%.


About Devon Leftovich

Leave a Reply

Your email address will not be published. Required fields are marked *