Lifecore Biomedical, Inc. (NASDAQ:LFCR) Stock Has Consensus Target Price of $6.50 According to Analysts

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) have earned a consensus rating of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.50.

Several analysts recently issued reports on the company. Weiss Ratings upgraded Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Craig Hallum lowered shares of Lifecore Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Barrington Research downgraded shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research report on Tuesday, September 29th. Zacks Research upgraded Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, William Blair lowered Lifecore Biomedical from an “outperform” rating to a “hold” rating in a report on Monday, September 28th.

Lifecore Biomedical Price Performance

Shares of LFCR opened at $6.40 on Friday. The firm has a 50-day moving average of $5.42 and a 200-day moving average of $5.54. Lifecore Biomedical has a one year low of $3.63 and a one year high of $8.98. The company has a market cap of $242.24 million, a PE ratio of -5.98 and a beta of 0.98.

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

Institutional Trading of Lifecore Biomedical

Several institutional investors and hedge funds have recently modified their holdings of the business. DCF Advisers LLC bought a new position in Lifecore Biomedical in the second quarter valued at about $2,229,000. BlackRock Inc. acquired a new position in shares of Lifecore Biomedical during the second quarter worth $10,569,000. Tocqueville Asset Management L.P. bought a new position in shares of Lifecore Biomedical in the 2nd quarter valued at $796,000. Covestor Ltd raised its position in Lifecore Biomedical by 19.8% in the third quarter. Covestor Ltd now owns 9,961 shares of the company’s stock valued at $66,000 after purchasing an additional 1,648 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its stake in shares of Lifecore Biomedical by 25.7% during the third quarter. Mraz Amerine & Associates Inc. now owns 22,160 shares of the company’s stock valued at $146,000 after purchasing an additional 4,535 shares in the last quarter. 83.36% of the stock is currently owned by institutional investors.

About Lifecore Biomedical

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.