Lifecore Biomedical (LFCR) Expected to Announce Earnings on Wednesday

Lifecore Biomedical (NASDAQ:LFCR) is projected to release its resultson Wednesday, August 5th. Analysts expect the company to announce earnings of ($0.2175) per share and revenue of $33.1320 million for the quarter.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). The business had revenue of $23.19 million for the quarter, compared to analysts’ expectations of $25.96 million. On average, analysts expect Lifecore Biomedical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Lifecore Biomedical Stock Up 1.2%

Shares of NASDAQ:LFCR opened at $4.39 on Wednesday. The company’s 50 day moving average price is $5.09 and its two-hundred day moving average price is $5.75. Lifecore Biomedical has a 12-month low of $3.63 and a 12-month high of $8.98. The firm has a market cap of $164.67 million, a PE ratio of -4.67 and a beta of 1.06.

Institutional Trading of Lifecore Biomedical

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in Lifecore Biomedical in the third quarter valued at approximately $28,000. BNP Paribas Financial Markets lifted its stake in Lifecore Biomedical by 92.7% during the third 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 last quarter. State of Wyoming bought a new stake in Lifecore Biomedical during the second quarter worth $69,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Lifecore Biomedical in the 2nd quarter valued at $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Lifecore Biomedical by 14.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,785 shares of the company’s stock valued at $104,000 after purchasing an additional 1,886 shares in the last quarter. Institutional investors own 83.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LFCR. Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research downgraded Lifecore Biomedical from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Weiss Ratings lowered Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Barrington Research lifted their price objective on Lifecore Biomedical from $6.00 to $6.50 and gave the company an “outperform” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $6.50.

About Lifecore Biomedical

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.