Lifecore Biomedical, Inc. (NASDAQ:LFCR) Receives Average Rating of “Hold” from Analysts

Lifecore Biomedical, Inc. (NASDAQ:LFCR) has received an average recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.50.

LFCR has been the topic of a number of analyst reports. Zacks Research upgraded shares of Lifecore Biomedical to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings restated a “sell (d)” rating on shares of Lifecore Biomedical in a research report on Thursday, January 22nd. Finally, Barrington Research restated an “outperform” rating and set a $5.50 target price on shares of Lifecore Biomedical in a research report on Tuesday, March 24th.

Lifecore Biomedical Stock Performance

Shares of NASDAQ LFCR opened at $5.38 on Friday. Lifecore Biomedical has a 1 year low of $3.63 and a 1 year high of $8.98. The firm’s 50 day moving average price is $5.70 and its 200 day moving average price is $6.95. The firm has a market cap of $201.64 million, a P/E ratio of -5.49 and a beta of 0.88.

Lifecore Biomedical (NASDAQ:LFCR) last announced its earnings results on Monday, March 16th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Lifecore Biomedical had a negative return on equity of 1,211.09% and a negative net margin of 23.08%.The firm had revenue of $35.75 million for the quarter, compared to analyst estimates of $35.31 million. As a group, equities analysts predict that Lifecore Biomedical will post -0.91 EPS for the current year.

Institutional Trading of Lifecore Biomedical

A number of hedge funds have recently bought and sold shares of the company. Legion Partners Asset Management LLC boosted its position in Lifecore Biomedical by 0.7% during the third quarter. Legion Partners Asset Management LLC now owns 4,461,823 shares of the company’s stock worth $32,839,000 after acquiring an additional 30,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lifecore Biomedical by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,622,769 shares of the company’s stock valued at $11,944,000 after purchasing an additional 12,851 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lifecore Biomedical by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 779,642 shares of the company’s stock valued at $6,379,000 after purchasing an additional 6,013 shares during the last quarter. Grizzlyrock Capital LLC acquired a new position in shares of Lifecore Biomedical in the 2nd quarter valued at $5,964,000. Finally, State Street Corp boosted its holdings in shares of Lifecore Biomedical by 8.5% in the 4th quarter. State Street Corp now owns 585,386 shares of the company’s stock valued at $4,788,000 after purchasing an additional 46,102 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

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.