DCF Advisers LLC Invests $2.23 Million in Lifecore Biomedical, Inc. $LFCR

DCF Advisers LLC bought a new stake in Lifecore Biomedical, Inc. (NASDAQ:LFCR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 424,500 shares of the company’s stock, valued at approximately $2,229,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Lifecore Biomedical during the 2nd quarter valued at $10,569,000. Deutsche Bank AG acquired a new position in shares of Lifecore Biomedical in the second quarter worth $137,000. Bank of New York Mellon Corp acquired a new position in shares of Lifecore Biomedical in the second quarter worth $353,000. GSA Capital Partners LLP purchased a new stake in shares of Lifecore Biomedical in the second quarter valued at $462,000. Finally, Bank of America Corp DE boosted its stake in shares of Lifecore Biomedical by 64.4% during the first quarter. Bank of America Corp DE now owns 43,298 shares of the company’s stock valued at $161,000 after acquiring an additional 16,961 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LFCR shares. Zacks Research upgraded shares of Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifecore Biomedical in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Barrington Research lifted their target price 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. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.50.

Lifecore Biomedical Price Performance

Lifecore Biomedical stock opened at $4.46 on Thursday. The company has a market cap of $168.81 million, a price-to-earnings ratio of -4.17 and a beta of 1.08. Lifecore Biomedical, Inc. has a 12 month low of $3.63 and a 12 month high of $8.98. The stock’s 50-day moving average is $4.89 and its 200-day moving average is $5.34.

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

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.