Lifecore Biomedical (NASDAQ:LFCR) Cut to Hold at Barrington Research

Lifecore Biomedical (NASDAQ:LFCR) was downgraded by research analysts at Barrington Research from an “outperform” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports.

LFCR has been the subject of several other reports. William Blair lowered Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Monday. Wall Street Zen upgraded Lifecore Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings raised shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 9th. Finally, Zacks Research upgraded Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lifecore Biomedical currently has a consensus rating of “Reduce” and an average price target of $6.50.

Lifecore Biomedical Stock Up 1.1%

Shares of LFCR stock opened at $6.59 on Tuesday. The stock has a market capitalization of $249.43 million, a PE ratio of -6.16 and a beta of 1.08. The stock’s 50-day moving average price is $4.54 and its 200 day moving average price is $4.77. Lifecore Biomedical has a 52-week low of $3.63 and a 52-week high of $8.98.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). The business had revenue of $34.17 million during the quarter, compared to analysts’ expectations of $34.18 million. Analysts expect that Lifecore Biomedical will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Lifecore Biomedical

A number of hedge funds have recently made changes to their positions in LFCR. SG Americas Securities LLC bought a new position in Lifecore Biomedical during the first quarter valued at approximately $64,000. Deutsche Bank AG acquired a new position in Lifecore Biomedical during the 2nd quarter valued at $137,000. Bank of America Corp DE lifted its stake in shares of Lifecore Biomedical by 64.4% in the first quarter. Bank of America Corp DE now owns 43,298 shares of the company’s stock valued at $161,000 after buying an additional 16,961 shares during the period. Wittenberg Investment Management Inc. grew its holdings in shares of Lifecore Biomedical by 26.1% during the 4th quarter. Wittenberg Investment Management Inc. now owns 21,723 shares of the company’s stock worth $178,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Lifecore Biomedical during the second quarter worth $353,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

About Lifecore Biomedical

Lifecore Biomedical, Inc is a contract development and manufacturing organization (CDMO) that provides services to pharmaceutical, biotechnology and medical device companies. The company specializes in complex sterile injectable products and supports customers through product development, process development, manufacturing, aseptic filling, packaging and related regulatory services.

Lifecore’s capabilities include the production of injectable products using fermentation and other specialized manufacturing processes.