Zacks Research Upgrades Lifecore Biomedical (NASDAQ:LFCR) to Hold

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

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

Lifecore Biomedical Stock Up 0.9%

LFCR opened at $4.36 on Wednesday. Lifecore Biomedical has a 52 week low of $3.63 and a 52 week high of $8.98. The business has a fifty day simple moving average of $5.07 and a 200-day simple moving average of $5.70. The firm has a market cap of $163.54 million, a P/E ratio of -4.64 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings data 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 company had revenue of $23.19 million during the quarter, compared to analysts’ expectations of $25.96 million. Sell-side analysts expect that Lifecore Biomedical will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Lifecore Biomedical

A number of large investors have recently modified their holdings of LFCR. Quarry LP acquired a new stake in shares of Lifecore Biomedical in the 3rd quarter valued at $28,000. BNP Paribas Financial Markets grew its stake in shares of Lifecore Biomedical by 92.7% during the third quarter. BNP Paribas Financial Markets now owns 5,791 shares of the company’s stock worth $43,000 after purchasing an additional 2,786 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Lifecore Biomedical in the fourth quarter valued at $50,000. SG Americas Securities LLC purchased a new position in Lifecore Biomedical in the first quarter valued at $64,000. Finally, State of Wyoming acquired a new stake in Lifecore Biomedical in the second quarter valued at $69,000. 83.36% of the stock is owned by hedge funds and other 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.