Lantheus (NASDAQ:LNTH) Shares Down 2.2% – Here’s Why

Lantheus Holdings, Inc. (NASDAQ:LNTH)’s stock price traded down 2.2% on Friday . The company traded as low as $89.62 and last traded at $89.96. 363,405 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,011,764 shares. The stock had previously closed at $91.94.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LNTH shares. JMP Securities cut their target price on shares of Lantheus from $125.00 to $112.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 7th. Redburn Atlantic began coverage on shares of Lantheus in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $175.00 price objective for the company. StockNews.com cut Lantheus from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. The Goldman Sachs Group assumed coverage on Lantheus in a research report on Wednesday. They issued a “buy” rating and a $143.00 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $120.00 price objective (down previously from $135.00) on shares of Lantheus in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.86.

Lantheus Trading Down 2.9 %

The stock has a 50-day moving average price of $96.17 and a two-hundred day moving average price of $98.34. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 14.86 and a beta of 0.45.

Institutional Investors Weigh In On Lantheus

A number of large investors have recently modified their holdings of LNTH. Geode Capital Management LLC boosted its stake in Lantheus by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,683,500 shares of the medical equipment provider’s stock worth $184,798,000 after purchasing an additional 32,551 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new stake in shares of Lantheus during the third quarter worth $1,066,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Lantheus during the second quarter valued at $290,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Lantheus in the 3rd quarter valued at $25,955,000. Finally, Van ECK Associates Corp raised its stake in Lantheus by 58.6% in the 3rd quarter. Van ECK Associates Corp now owns 58,472 shares of the medical equipment provider’s stock worth $6,469,000 after acquiring an additional 21,604 shares during the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

About Lantheus

Lantheus Holdings, Inc develops, manufactures, and commercializes diagnostic and therapeutic products that assist clinicians in the diagnosis and treatment of heart, cancer, and other diseases worldwide. It provides DEFINITY, an injectable ultrasound enhancing agent used in echocardiography exams; TechneLite, a technetium generator for nuclear medicine procedures; Xenon-133, a radiopharmaceutical gas to assess pulmonary function; Neurolite, an injectable imaging agent to identify the area within the brain where blood flow has been blocked or reduced due to stroke; Cardiolite, an injectable Tc-99m-labeled imaging agent to assess blood flow to the muscle of the heart; and PYLARIFY, an F 18-labelled PSMA-targeted PET imaging agent used for imaging of PSMA positive-lesions in men with prostate cancer.