William Blair Reaffirms “Market Perform” Rating for Lifecore Biomedical (NASDAQ:LFCR)

Lifecore Biomedical (NASDAQ:LFCR)‘s stock had its “market perform” rating reiterated by William Blair in a note issued to investors on Monday, Benzinga reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of 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. Barrington Research increased their price objective on shares of Lifecore Biomedical from $6.00 to $6.50 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Finally, Zacks Research upgraded shares of Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.50.

Lifecore Biomedical Stock Performance

NASDAQ LFCR traded up $2.35 during trading on Monday, hitting $6.54. The stock had a trading volume of 3,301,777 shares, compared to its average volume of 236,013. Lifecore Biomedical has a 12 month low of $3.63 and a 12 month high of $8.98. The company’s 50-day moving average price is $4.47 and its two-hundred day moving average price is $4.77. The company has a market capitalization of $247.73 million, a PE ratio of -6.12 and a beta of 1.08.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $34.17 million for the quarter, compared to the consensus estimate of $34.18 million. As a group, equities analysts anticipate that Lifecore Biomedical will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Lifecore Biomedical in the 1st quarter valued at about $64,000. Wittenberg Investment Management Inc. increased its position in Lifecore Biomedical by 26.1% during the fourth quarter. Wittenberg Investment Management Inc. now owns 21,723 shares of the company’s stock worth $178,000 after buying an additional 4,500 shares during the last quarter. Deutsche Bank AG acquired a new position in Lifecore Biomedical during the second quarter worth approximately $137,000. Bank of America Corp DE bought a new stake in Lifecore Biomedical in the second quarter valued at approximately $195,000. Finally, Bank of New York Mellon Corp bought a new stake in Lifecore Biomedical in the second quarter valued at approximately $353,000. Institutional investors own 83.36% of the company’s stock.

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.