Lifecore Biomedical, Inc. (NASDAQ:LFCR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) have received a consensus recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.50.

A number of analysts recently weighed in on the stock. Barrington Research raised shares of Lifecore Biomedical from a “market perform” rating to an “outperform” rating and set a $5.50 price target for the company in a research report on Tuesday. Zacks Research raised Lifecore Biomedical to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lifecore Biomedical in a research report on Thursday, January 22nd.

Lifecore Biomedical Stock Performance

Shares of LFCR stock opened at $4.36 on Tuesday. The company’s fifty day simple moving average is $7.54 and its 200-day simple moving average is $7.49. Lifecore Biomedical has a 52 week low of $4.20 and a 52 week high of $8.98. The company has a current ratio of 2.80, a quick ratio of 1.67 and a debt-to-equity ratio of 113.76. The company has a market cap of $163.37 million, a PE ratio of -4.07 and a beta of 0.62.

Hedge Funds Weigh In On Lifecore Biomedical

Several hedge funds and other institutional investors have recently bought and sold shares of LFCR. Grizzlyrock Capital LLC purchased a new position in Lifecore Biomedical in the 2nd quarter worth approximately $5,964,000. Invesco Ltd. purchased a new stake in shares of Lifecore Biomedical during the second quarter valued at approximately $3,081,000. Squarepoint Ops LLC lifted its position in shares of Lifecore Biomedical by 385.9% during the third quarter. Squarepoint Ops LLC now owns 150,909 shares of the company’s stock worth $1,111,000 after purchasing an additional 119,851 shares in the last quarter. Millennium Management LLC lifted its position in shares of Lifecore Biomedical by 86.2% during the fourth quarter. Millennium Management LLC now owns 251,705 shares of the company’s stock worth $2,059,000 after purchasing an additional 116,500 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its stake in shares of Lifecore Biomedical by 2.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 3,694,832 shares of the company’s stock valued at $30,002,000 after purchasing an additional 78,686 shares during the period. 83.36% of the stock is owned by institutional investors and hedge funds.

Lifecore Biomedical Company Profile

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.