Lifecore Biomedical (NASDAQ:LFCR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Lifecore Biomedical (NASDAQ:LFCR) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on LFCR. Weiss Ratings downgraded shares of Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Barrington Research lifted their price objective on Lifecore Biomedical from $6.00 to $6.50 and gave the company 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Lifecore Biomedical has a consensus rating of “Hold” and a consensus target price of $6.50.

Lifecore Biomedical Price Performance

Shares of LFCR opened at $4.36 on Wednesday. The company’s fifty day moving average price is $5.07 and its 200-day moving average price is $5.70. The firm has a market capitalization of $163.54 million, a PE ratio of -4.64 and a beta of 1.06. Lifecore Biomedical has a 1-year low of $3.63 and a 1-year high of $8.98.

Lifecore Biomedical (NASDAQ:LFCR) last announced its earnings results on Wednesday, May 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). The firm had revenue of $23.19 million during the quarter, compared to analysts’ expectations of $25.96 million. As a group, research analysts anticipate that Lifecore Biomedical will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Lifecore Biomedical by 64.4% in the 1st quarter. Bank of America Corp DE now owns 43,298 shares of the company’s stock valued at $161,000 after purchasing an additional 16,961 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Lifecore Biomedical during the 1st quarter worth $64,000. Millennium Management LLC lifted its position in shares of Lifecore Biomedical by 86.2% during the 4th 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 during the last quarter. AQR Capital Management LLC grew its stake in shares of Lifecore Biomedical by 28.4% during the fourth quarter. AQR Capital Management LLC now owns 16,171 shares of the company’s stock worth $132,000 after purchasing an additional 3,574 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Lifecore Biomedical during the fourth quarter worth $123,000. Hedge funds and other institutional investors 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.