Lifecore Biomedical (NASDAQ:LFCR) Price Target Raised to $6.00

Key Points

• Barrington Research raised the price target to $6.00 (from $5.50) and kept an Outperform rating, implying about a 21.5% upside; MarketBeat's consensus target is also $6.00 with a consensus rating of Hold.
• In the latest quarter Lifecore reported EPS of ($0.16), missing estimates by $0.05 while revenue of $35.75M slightly beat expectations, and analysts forecast about -0.89 EPS for the fiscal year amid negative margins and ROE.
• Shares trade at $4.94 (below the 50‑ and 200‑day moving averages) with a market cap of $185M and a negative P/E of -5.04, and institutional investors own roughly 83.4% of the stock with several funds recently increasing positions.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) had its price target raised by equities research analysts at Barrington Research from $5.50 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's price objective would indicate a potential upside of 21.46% from the company's previous close.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded Lifecore Biomedical to a "hold" rating in a research note on Thursday, January 1st. Weiss Ratings restated a "sell (d)" rating on shares of Lifecore Biomedical in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Lifecore Biomedical Stock Performance

LFCR traded down $0.18 on Wednesday, hitting $4.94. The company had a trading volume of 203,101 shares, compared to its average volume of 275,690. The stock has a fifty day moving average price of $5.42 and a 200-day moving average price of $6.87. Lifecore Biomedical has a 12-month low of $3.63 and a 12-month high of $8.98. The stock has a market capitalization of $185.15 million, a price-to-earnings ratio of -5.04 and a beta of 0.88.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last posted its earnings results on Monday, March 16th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Lifecore Biomedical had a negative net margin of 23.08% and a negative return on equity of 1,211.09%. The company had revenue of $35.75 million during the quarter, compared to analysts' expectations of $35.31 million. Analysts forecast that Lifecore Biomedical will post -0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Lifecore Biomedical

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Lifecore Biomedical during the first quarter worth about $64,000. Millennium Management LLC boosted its position in Lifecore Biomedical by 86.2% in the fourth quarter. Millennium Management LLC now owns 251,705 shares of the company's stock valued at $2,059,000 after buying an additional 116,500 shares during the last quarter. AQR Capital Management LLC boosted its position in Lifecore Biomedical by 28.4% in the fourth quarter. AQR Capital Management LLC now owns 16,171 shares of the company's stock valued at $132,000 after buying an additional 3,574 shares during the last quarter. Jump Financial LLC purchased a new stake in Lifecore Biomedical in the fourth quarter valued at approximately $123,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Lifecore Biomedical by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,646 shares of the company's stock valued at $137,000 after buying an additional 2,826 shares during the last quarter. 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.

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