Lifecore Biomedical (NASDAQ:LFCR) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Lifecore Biomedical (NASDAQ:LFCR) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Barrington Research raised 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. Weiss Ratings cut Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Lifecore Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Lifecore Biomedical currently has an average rating of “Reduce” and a consensus target price of $6.50.

Lifecore Biomedical Stock Up 0.4%

NASDAQ:LFCR opened at $5.27 on Tuesday. The stock has a market capitalization of $197.68 million, a price-to-earnings ratio of -5.61 and a beta of 1.06. Lifecore Biomedical has a 52 week low of $3.63 and a 52 week high of $8.98. The firm has a 50 day moving average of $5.13 and a 200 day moving average of $6.20.

Lifecore Biomedical (NASDAQ:LFCR) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.14). The business had revenue of $23.19 million for the quarter, compared to analyst estimates of $25.96 million. As a group, analysts expect that Lifecore Biomedical will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Lifecore Biomedical during the 3rd quarter worth about $28,000. BNP Paribas Financial Markets lifted its holdings in shares of Lifecore Biomedical by 92.7% in the 3rd 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 during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Lifecore Biomedical in the 4th quarter valued at about $50,000. SG Americas Securities LLC purchased a new stake in shares of Lifecore Biomedical in the first quarter worth about $64,000. Finally, State of Wyoming purchased a new stake in shares of Lifecore Biomedical in the second quarter worth about $69,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

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.