Lantheus Holdings, Inc
LNTH
$100.97
-0.01%
Lantheus Holdings, Inc. is a radiopharmaceutical-focused company that develops and commercializes imaging agents and therapeutic products to help clinicians detect, diagnose, and treat cancer and other diseases. The company operates in the specialty pharmaceutical and diagnostic imaging industry, with a portfolio spanning oncology (including the prostate cancer imaging agent PYLARIFY) and cardiology (including the ultrasound contrast agent DEFINITY). Lantheus is a market leader in the emerging field of radiopharmaceutical diagnostics, leveraging its expertise to enable precision medicine. The current investor narrative centers on the company's robust growth driven by PYLARIFY's commercial success, expansion into therapeutic radiopharmaceuticals, and strategic partnerships, while also debating the sustainability of its growth amid competitive pressures and regulatory dynamics.…
LNTH
Lantheus Holdings, Inc
$100.97
Investment Opinion: Should I buy LNTH Today?
Based on the analysis, LNTH is rated a 'Buy' with a thesis that the company's strong market position in radiopharmaceutical diagnostics, led by PYLARIFY, justifies its premium valuation despite near-term growth deceleration. The consensus analyst rating is 'Buy' with an average target price of $107.74, implying a 6.7% upside from the current price of $100.97.
Supporting evidence includes a forward PE of 15.8x, which is reasonable for a company with expected earnings growth of 21.5%. Revenue growth, though slowing, remains positive at 1.2% YoY in Q1 2026, and the oncology segment continues to drive sales. The company maintains a strong gross margin of 61.1% and generates robust free cash flow of $371.7 million TTM. These metrics indicate a financially healthy company with pricing power and operational efficiency.
The main risks are the deceleration in revenue growth and high dependence on PYLARIFY. If revenue growth falls below 0% or PYLARIFY faces a major competitive threat, the rating would be downgraded to 'Hold' or 'Sell'. Conversely, if growth reaccelerates above 10% and the forward PE remains below 16x, the rating could be upgraded to a 'Strong Buy'. Overall, the stock appears fairly valued relative to its growth prospects, but investors should monitor these key metrics closely.
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LNTH 12-Month Price Forecast
The AI assessment is neutral with medium confidence. While the company has strong profitability and a leading product, the recent revenue deceleration and high dependence on PYLARIFY create uncertainty. The forward valuation is reasonable, but the growth expectations may be optimistic given the current trend. If revenue growth reaccelerates above 5% and the company demonstrates pipeline progress, the stance would be upgraded to bullish. Conversely, if growth stalls or competitive threats materialize, a downgrade to bearish would be warranted.
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Lantheus Holdings, Inc's 12-month outlook, with a consensus price target around $107.74 and implied upside of +6.7% versus the current price.
Average Target
$107.74
0 analysts
Implied Upside
+6.7%
vs. current price
Analyst Count
—
covering this stock
Price Range
$103 - $115
Analyst target range
Lantheus is covered by 8 analysts, with a consensus recommendation of 'Buy' and a mean recommendation score of 2.5 (where 1 is Strong Buy and 5 is Sell). The average target price is $107.74, implying an upside of 6.7% from the current price of $100.97. The distribution of ratings is not explicitly provided, but the 'Buy' consensus and recent actions from firms like B. Riley Securities, Citizens, Mizuho, and Truist Securities, which have all maintained or reiterated positive ratings, indicate a bullish sentiment. The low target is $102.50, and the high target is $115.00, with the average at $107.74. The spread between the low and high targets is $12.50, or 12.4% of the average, suggesting moderate uncertainty about the stock's future performance. The high target of $115.00 implies a potential upside of 13.9% from the current price, likely assuming continued strong growth in PYLARIFY and successful expansion into therapeutic radiopharmaceuticals. The low target of $102.50, only 1.5% above the current price, suggests that even the most bearish analyst sees limited downside, possibly due to the company's strong cash flow and market position. Recent institutional ratings have been consistently positive, with no downgrades in the past six months, reinforcing the bullish outlook. However, the relatively small number of analysts (8) indicates that Lantheus may have limited coverage compared to larger pharmaceutical companies, which could lead to less efficient price discovery and higher volatility.
Bulls vs Bears: LNTH Investment Factors
Lantheus presents a compelling growth story anchored by PYLARIFY's commercial success, evidenced by a 87.6% one-year stock surge and strong profitability metrics. However, the recent revenue deceleration to just 1.2% YoY growth in Q1 2026 and heavy reliance on a single product introduce significant risks. The bull case is supported by a forward PE of 15.8x and a consensus Buy rating, while the bear case highlights valuation premium and growth sustainability concerns. Currently, the evidence slightly favors the bulls given the strong momentum and analyst confidence, but the key tension lies in whether PYLARIFY can reignite growth or if the market has already priced in its peak potential.
Bullish
- Strong 1-Year Price Performance: LNTH stock has surged 87.6% over the past year, vastly outperforming the S&P 500's 18.7% gain. This demonstrates strong market conviction in the company's growth story and commercial execution.
- High-Growth Oncology Segment: The oncology segment, driven by PYLARIFY, generated $240.9 million in Q1 2026, representing 63.8% of total product revenue. This concentration highlights the product's commercial success and its central role in the company's growth.
- Solid Profitability and Margins: LNTH reported a net margin of 15.2% and an operating margin of 20.2% in the trailing twelve months. The gross margin stands at 61.1%, indicating strong pricing power and efficient cost management.
- Attractive Forward Valuation: The forward PE ratio is 15.8x, which is a discount to the trailing PE of 19.2x, implying expected earnings growth of about 21.5%. This suggests the market is pricing in continued profitability improvements.
Bearish
- Revenue Growth Deceleration: Q1 2026 revenue grew only 1.2% year-over-year, a sharp slowdown from the 21.5% growth seen in Q1 2025. This plateau raises concerns about PYLARIFY's market saturation and the company's ability to sustain high growth.
- High Customer Concentration: PYLARIFY accounts for over 60% of product revenue, making the company highly dependent on a single product. Any competitive threat, regulatory setback, or clinical guideline change could disproportionately impact revenue.
- Elevated Valuation vs. Peers: The trailing PE of 19.2x is above the specialty pharmaceutical peer average of around 15x, suggesting the stock is priced at a premium. This leaves little room for error and increases vulnerability to multiple compression.
- Negative PEG Ratio Signal: The PEG ratio is -0.82, which is unusual and may indicate data inconsistency or a temporary earnings anomaly. This could signal that the market's growth expectations are not fully aligned with actual earnings trends.
LNTH Technical Analysis
Lantheus Holdings has exhibited a powerful long-term uptrend, with the stock price surging 87.6% over the past year, significantly outperforming the S&P 500's 18.7% gain. As of September 4, 2026, the stock trades at $100.97, which is near the upper end of its 52-week range of $49.67 to $111.86, specifically at 90.3% of the range midpoint. This positioning near the highs suggests strong momentum and investor confidence, though it also implies the stock may be vulnerable to profit-taking or mean reversion if growth expectations falter.
Beta
-0.03
-0.03x market volatility
Max Drawdown
-31.0%
Largest decline past year
52-Week Range
$50-$112
Price range past year
Annual Return
+87.6%
Cumulative gain past year
| Period | LNTH Return | S&P 500 |
|---|---|---|
| 1m | -0.5% | -0.4% |
| 3m | -0.0% | +4.5% |
| 6m | +39.2% | +13.9% |
| 1y | +87.6% | +19.0% |
| ytd | +50.1% | +12.9% |
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LNTH Fundamental Analysis
Lantheus's revenue trajectory has been mixed but generally positive, with the most recent quarter (Q1 2026) reporting revenue of $377.3 million, a modest 1.2% year-over-year increase. However, this growth rate is a deceleration from earlier periods; for example, Q2 2025 revenue was $378.0 million, and Q3 2025 revenue was $384.0 million, indicating a plateau. The company's oncology segment, driven by PYLARIFY, generated $240.9 million in revenue, representing 63.8% of total product revenue, while cardiology (DEFINITY) contributed $84.6 million. The growth is primarily fueled by PYLARIFY's adoption, but the overall revenue growth has slowed, raising questions about the sustainability of the product's expansion.
Quarterly Revenue
$377333000.0B
2026-03
Revenue YoY Growth
+1.2%
YoY Comparison
Gross Margin
61.2%
Latest Quarter
Free Cash Flow
$371695000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is LNTH Overvalued?
Given that Lantheus is profitable, the primary valuation metric selected is the price-to-earnings (PE) ratio. The trailing PE is 19.2x, while the forward PE is 15.8x, indicating that the market expects earnings growth of approximately 21.5% over the next year. This forward discount suggests optimism about future profitability, likely driven by continued PYLARIFY sales and operational leverage. The PEG ratio is negative at -0.82, which is unusual and may reflect a temporary earnings anomaly or data inconsistency, but it does not alter the fundamental valuation assessment.
PE
19.2x
Latest Quarter
vs. Historical
Mid-Range
5-Year PE Range 8x~31x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
11.8x
Enterprise Value Multiple
Investment Risk Disclosure
Financial risks include a debt-to-equity ratio of 0.57, indicating moderate leverage, but the company generates strong free cash flow of $371.7 million TTM, providing a cushion. The net margin of 15.2% is healthy, yet the recent revenue plateau (Q1 2026 growth of only 1.2%) could pressure margins if fixed costs remain. Additionally, the negative PEG ratio of -0.82 suggests potential earnings volatility or data anomalies that warrant caution. The company's profitability is heavily tied to PYLARIFY, so any disruption in its supply chain or pricing could significantly impact earnings.
Market risks include a beta of -0.034, indicating low correlation with the market, which is unusual and may not fully capture sector-specific risks. The stock trades at a premium to peers (PE 19.2x vs. ~15x), making it susceptible to valuation compression if growth disappoints. Competitive threats from emerging radiopharmaceutical diagnostics could erode PYLARIFY's market share. Regulatory changes in healthcare reimbursement or imaging guidelines could also pose headwinds. The recent stock price consolidation near $100 after a sharp run-up suggests potential profit-taking pressure.
In a worst-case scenario, if PYLARIFY faces a competitive setback or regulatory hurdle, revenue could decline, leading to earnings downgrades. The stock could fall to its 52-week low of $49.67, representing a -50.8% downside from the current price of $100.97. Historical max drawdown of -31.01% indicates the stock has experienced significant corrections before. Given the high valuation and growth dependence, a realistic downside scenario could see the stock drop 30-50% if the core growth narrative breaks.