Lifecore Biomedical's (LFCR) Market Perform Rating Reaffirmed at William Blair

Key Points

• William Blair reaffirmed its “Market Perform” rating on Lifecore Biomedical. The stock has a consensus “Hold” rating and a consensus price target of $6.50.
• Lifecore shares rose 55.8% to $6.54 during Monday trading, with volume substantially above average. The stock has traded between $3.63 and $8.98 over the past year.
• Institutional investors and hedge funds own 83.36% of the company, with BlackRock and DCF Advisers among investors that established new positions in the second quarter.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at William Blair in a report issued on Monday, Benzinga reports.

A number of other equities research analysts have also recently commented on LFCR. Wall Street Zen raised Lifecore Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Barrington Research raised their target price on Lifecore Biomedical from $6.00 to $6.50 and gave the stock an "outperform" rating in a report on Tuesday, June 16th. 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 raised Lifecore Biomedical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lifecore Biomedical currently has a consensus rating of "Hold" and a consensus price target of $6.50.

Lifecore Biomedical Stock Up 55.8%

NASDAQ LFCR traded up $2.35 during trading hours on Monday, hitting $6.54. The company's stock had a trading volume of 3,301,777 shares, compared to its average volume of 236,013. Lifecore Biomedical has a twelve month low of $3.63 and a twelve month high of $8.98. The firm has a market capitalization of $247.73 million, a P/E ratio of -6.12 and a beta of 1.08. The stock has a fifty day moving average of $4.47 and a 200 day moving average of $4.77.

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

Institutional Trading of Lifecore Biomedical

Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its holdings in shares of Lifecore Biomedical by 76.8% in the second quarter. Squarepoint Ops LLC now owns 92,674 shares of the company's stock valued at $487,000 after buying an additional 40,270 shares during the period. Bank of America Corp DE acquired a new stake in shares of Lifecore Biomedical during the second quarter worth $195,000. Tocqueville Asset Management L.P. bought a new stake in Lifecore Biomedical in the 2nd quarter valued at $796,000. DCF Advisers LLC acquired a new position in Lifecore Biomedical in the 2nd quarter worth $2,229,000. Finally, BlackRock Inc. acquired a new position in Lifecore Biomedical in the 2nd quarter worth $10,569,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

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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