Lifecore Biomedical (NASDAQ:LFCR) Stock Rating Upgraded by Zacks Research

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

A number of other research firms have also issued reports on LFCR. Wall Street Zen raised shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings cut Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Finally, Barrington Research boosted their price objective on Lifecore Biomedical from $6.00 to $6.50 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lifecore Biomedical has an average rating of “Hold” and an average target price of $6.50.

Lifecore Biomedical Price Performance

NASDAQ:LFCR opened at $4.36 on Wednesday. The firm has a market capitalization of $163.54 million, a P/E ratio of -4.64 and a beta of 1.06. The business has a 50 day simple moving average of $5.07 and a 200 day simple moving average of $5.70. Lifecore Biomedical has a 12-month low of $3.63 and a 12-month high of $8.98.

Lifecore Biomedical (NASDAQ:LFCR) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $25.96 million. Research analysts anticipate that Lifecore Biomedical will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LFCR. Quarry LP bought a new stake in Lifecore Biomedical during the third quarter worth approximately $28,000. BNP Paribas Financial Markets boosted 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 valued at $43,000 after buying an additional 2,786 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Lifecore Biomedical during the fourth quarter worth about $50,000. SG Americas Securities LLC bought a new stake in Lifecore Biomedical in the first quarter worth about $64,000. Finally, State of Wyoming acquired a new stake in Lifecore Biomedical in the 2nd quarter valued at about $69,000. 83.36% of the stock is currently owned by institutional investors.

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.