Lifecore Biomedical (NASDAQ:LFCR) Stock Rating Cut to Hold at Craig Hallum

Key Points

• Craig Hallum downgraded Lifecore Biomedical from “strong buy” to “hold,” following similar rating cuts from Barrington Research and William Blair. The stock has a consensus “Reduce” rating and an average price target of $6.50.
• Lifecore reported a quarterly loss of $0.19 per share on $34.17 million in revenue, essentially matching analyst expectations. Analysts project a full-year loss of $1.02 per share.
• Institutional investors own 83.36% of Lifecore’s shares, with BlackRock and several other firms establishing new positions during the second quarter.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) was downgraded by Craig Hallum from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Several other research analysts have also weighed in on LFCR. Barrington Research lowered shares of Lifecore Biomedical from an "outperform" rating to a "hold" rating in a report on Tuesday. William Blair downgraded Lifecore Biomedical from an "outperform" rating to a "hold" rating in a research note on Monday. Wall Street Zen upgraded Lifecore Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Zacks Research upgraded Lifecore Biomedical from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Lifecore Biomedical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 9th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lifecore Biomedical presently has a consensus rating of "Reduce" and an average price target of $6.50.

Lifecore Biomedical Stock Performance

Lifecore Biomedical stock opened at $6.59 on Monday. The stock's 50 day moving average price is $4.54 and its 200 day moving average price is $4.77. Lifecore Biomedical has a one year low of $3.63 and a one year high of $8.98. The firm has a market capitalization of $249.43 million, a PE ratio of -6.16 and a beta of 1.08.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $34.17 million for the quarter, compared to analysts' expectations of $34.18 million. On average, analysts forecast that Lifecore Biomedical will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LFCR. BlackRock Inc. acquired a new stake in Lifecore Biomedical in the second quarter worth about $10,569,000. DCF Advisers LLC bought a new stake in shares of Lifecore Biomedical during the 2nd quarter worth about $2,229,000. Tocqueville Asset Management L.P. bought a new stake in shares of Lifecore Biomedical during the 2nd quarter worth about $796,000. GSA Capital Partners LLP acquired a new stake in shares of Lifecore Biomedical in the 2nd quarter worth approximately $462,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Lifecore Biomedical in the 2nd quarter worth approximately $353,000. Institutional investors and hedge funds own 83.36% of the company's stock.

About Lifecore Biomedical

Lifecore Biomedical, Inc is a contract development and manufacturing organization (CDMO) that provides services to pharmaceutical, biotechnology and medical device companies. The company specializes in complex sterile injectable products and supports customers through product development, process development, manufacturing, aseptic filling, packaging and related regulatory services.

Lifecore's capabilities include the production of injectable products using fermentation and other specialized manufacturing processes.

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