Lantheus Shares Plunge 29% On Q2 Weak Revenue

(RTTNews) - Lantheus Holdings, Inc. (LNTH) dropped 29.17 percent to $51.44 on Wednesday after the radiopharmaceutical company reported second-quarter results. Revenue fell 4.1 percent to $378.0 million from $394.1 million a year earlier.

The stock opened at $51.75 and traded between $47.27 and $51.75 during the session on the Nasdaq, with volume surging to 7.5 million shares well above the average of 1.2 million. Lantheus is now near its 52-week low of $47.27, far off its high of $118.21.

Despite the revenue decline, net income on a net basis rose 26.9 percent to $78.8 million, or $1.12 per share, up from $62.1 million, or $0.88 per share, in the prior year period.