Lifecore Biomedical (NASDAQ:LFCR) Posts Quarterly Earnings Results, Misses Expectations By $0.78 EPS

Lifecore Biomedical (NASDAQ:LFCR) released its quarterly earnings data on Wednesday. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.78), FiscalAI reports. The firm had revenue of $25.32 million during the quarter, compared to the consensus estimate of $25.57 million.

Lifecore Biomedical Price Performance

Lifecore Biomedical stock traded down $0.04 during trading hours on Friday, hitting $6.37. The company had a trading volume of 294,646 shares, compared to its average volume of 285,633. The firm has a 50-day moving average of $5.57 and a 200 day moving average of $5.51. The firm has a market cap of $241.27 million, a PE ratio of -3.42 and a beta of 0.99. Lifecore Biomedical has a one year low of $3.63 and a one year high of $8.98.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research raised shares of Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Craig Hallum lowered shares of Lifecore Biomedical from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Barrington Research cut shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, William Blair downgraded shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Monday, September 28th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lifecore Biomedical currently has a consensus rating of “Reduce” and a consensus price target of $6.50.

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc is a contract development and manufacturing organization that provides development, formulation, aseptic filling, packaging and other manufacturing services for pharmaceutical and biopharmaceutical companies. The company specializes in complex sterile injectable products and supports customers from development through commercial production.

Lifecore has particular expertise in hyaluronic acid, a naturally occurring substance used in ophthalmic, orthopedic, aesthetic and other medical applications.