Lifecore Biomedical (NASDAQ:LFCR) Upgraded to “Hold” at Zacks Research

Lifecore Biomedical (NASDAQ:LFCR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Barrington Research upped their price objective on shares of Lifecore Biomedical from $6.00 to $6.50 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Finally, Weiss Ratings lowered Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.50.

Lifecore Biomedical Stock Up 0.9%

Shares of Lifecore Biomedical stock opened at $4.36 on Wednesday. Lifecore Biomedical has a 52 week low of $3.63 and a 52 week high of $8.98. The firm’s 50 day moving average is $5.07 and its two-hundred day moving average is $5.70. The firm has a market capitalization of $163.54 million, a P/E ratio of -4.64 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.14). The firm had revenue of $23.19 million for the quarter, compared to analyst estimates of $25.96 million. As a group, research analysts expect that Lifecore Biomedical will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lifecore Biomedical

Hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Lifecore Biomedical in the 3rd quarter valued at $28,000. BNP Paribas Financial Markets boosted its stake in Lifecore Biomedical by 92.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,791 shares of the company’s stock worth $43,000 after purchasing an additional 2,786 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Lifecore Biomedical during the 4th quarter worth $50,000. SG Americas Securities LLC purchased a new position in Lifecore Biomedical during the 1st quarter worth $64,000. Finally, State of Wyoming purchased a new position in Lifecore Biomedical during the 2nd quarter worth $69,000. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc is a publicly traded specialty biopharmaceutical company headquartered in Chaska, Minnesota. The company focuses on the development, manufacture and commercialization of hyaluronic acid (HA)–based products that address medical and aesthetic needs. Lifecore’s proprietary HA formulations are designed to meet strict regulatory standards for purity, consistency and performance in highly regulated markets.

The company’s product portfolio spans multiple therapeutic areas, including ophthalmology, orthopedics, dermatology and wound care.