Barrington Research Reiterates “Outperform” Rating for Lifecore Biomedical (NASDAQ:LFCR)

Lifecore Biomedical (NASDAQ:LFCR)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a research note issued on Tuesday,Benzinga reports. They presently have a $5.50 price objective on the stock. Barrington Research’s target price would indicate a potential upside of 37.16% from the company’s previous close.

Several other brokerages have also recently weighed in on LFCR. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lifecore Biomedical in a report on Thursday, January 22nd. Zacks Research raised shares of Lifecore Biomedical to a “hold” rating in a research report on Thursday, January 1st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lifecore Biomedical has an average rating of “Hold” and a consensus price target of $5.50.

Lifecore Biomedical Stock Down 1.0%

NASDAQ:LFCR traded down $0.04 during midday trading on Tuesday, reaching $4.01. The company had a trading volume of 251,452 shares, compared to its average volume of 235,947. Lifecore Biomedical has a 12-month low of $3.87 and a 12-month high of $8.98. The firm has a market capitalization of $150.29 million, a price-to-earnings ratio of -4.09 and a beta of 0.62. The company has a current ratio of 2.80, a quick ratio of 1.67 and a debt-to-equity ratio of 113.76. The stock’s fifty day simple moving average is $7.18 and its 200-day simple moving average is $7.36.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $35.75 million for the quarter, compared to analysts’ expectations of $35.31 million. Lifecore Biomedical had a negative return on equity of 1,211.09% and a negative net margin of 23.08%. On average, sell-side analysts anticipate that Lifecore Biomedical will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lifecore Biomedical

Hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Lifecore Biomedical in the 3rd quarter valued at about $28,000. BNP Paribas Financial Markets grew 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 buying an additional 2,786 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Lifecore Biomedical during the fourth quarter worth approximately $50,000. State of Wyoming acquired a new position in Lifecore Biomedical during the second quarter worth approximately $69,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Lifecore Biomedical during the second quarter worth approximately $88,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

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.