Lifecore Biomedical, Inc. (NASDAQ:LFCR) Receives Average Rating of "Reduce" from Analysts

Key Points

• Analysts hold a cautious view of Lifecore Biomedical: Five analysts give the stock an average “Reduce” rating, with one sell and four hold recommendations. The average 12-month price target is $6.50.
• Lifecore reported quarterly results in line with expectations, posting a loss of $0.19 per share and revenue of $34.17 million versus the $34.18 million consensus estimate.
• Institutional ownership is substantial at 83.36%. Several firms increased or initiated positions during the second quarter, including BlackRock, which held approximately $10.6 million in shares.

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) have earned an average recommendation of "Reduce" from the five analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.50.

Several equities research analysts have issued reports on LFCR shares. Craig Hallum lowered shares of Lifecore Biomedical from a "strong-buy" rating to a "hold" rating in a research report on Monday. Weiss Ratings upgraded shares of Lifecore Biomedical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, September 9th. Wall Street Zen raised shares of Lifecore Biomedical from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Barrington Research lowered shares of Lifecore Biomedical from an "outperform" rating to a "hold" rating in a research report on Tuesday. Finally, William Blair cut Lifecore Biomedical from an "outperform" rating to a "hold" rating in a research note on Monday.

Lifecore Biomedical Price Performance

LFCR opened at $6.59 on Wednesday. The firm has a market capitalization of $249.43 million, a P/E ratio of -6.16 and a beta of 1.08. Lifecore Biomedical has a one year low of $3.63 and a one year high of $8.98. The company has a fifty day moving average price of $4.54 and a 200-day moving average price of $4.77.

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

Hedge Funds Weigh In On Lifecore Biomedical

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

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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