Wall Street Zen Downgrades Lifecore Biomedical (NASDAQ:LFCR) to Sell

Key Points

• Wall Street Zen downgraded Lifecore Biomedical from hold to sell, adding to a mixed analyst picture that currently averages to a Hold rating with a $6.00 target price.
• The company’s latest quarterly results were weak: Lifecore reported a loss of $0.43 per share, wider than expected, and revenue of $23.19 million, below consensus estimates.
• Lifecore Biomedical stock opened at $4.79, well below its 52-week high of $8.98, while institutional ownership remains high at 83.36%.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other equities analysts have also recently weighed in on LFCR. Weiss Ratings cut Lifecore Biomedical from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday. Barrington Research boosted their target price on Lifecore Biomedical from $5.50 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lifecore Biomedical has an average rating of "Hold" and an average target price of $6.00.

Lifecore Biomedical Price Performance

NASDAQ:LFCR opened at $4.79 on Friday. Lifecore Biomedical has a fifty-two week low of $3.63 and a fifty-two week high of $8.98. The stock has a market capitalization of $179.67 million, a PE ratio of -5.10 and a beta of 1.08. The business's 50-day simple moving average is $5.19 and its 200-day simple moving average is $6.81.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.14). Lifecore Biomedical had a negative net margin of 25.43% and a negative return on equity of 1,211.09%. The business had revenue of $23.19 million for the quarter, compared to the consensus estimate of $25.96 million. On average, research analysts expect that Lifecore Biomedical will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Lifecore Biomedical

Several institutional investors have recently bought and sold shares of LFCR. Invesco Ltd. bought a new stake in Lifecore Biomedical in the 2nd quarter valued at approximately $3,081,000. Squarepoint Ops LLC lifted its stake in Lifecore Biomedical by 385.9% in the 3rd quarter. Squarepoint Ops LLC now owns 150,909 shares of the company's stock valued at $1,111,000 after acquiring an additional 119,851 shares in the last quarter. Millennium Management LLC lifted its stake in Lifecore Biomedical by 86.2% in the 4th quarter. Millennium Management LLC now owns 251,705 shares of the company's stock valued at $2,059,000 after acquiring an additional 116,500 shares in the last quarter. Quinn Opportunity Partners LLC lifted its stake in Lifecore Biomedical by 31.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 242,670 shares of the company's stock valued at $1,985,000 after acquiring an additional 58,189 shares in the last quarter. Finally, State Street Corp lifted its stake in Lifecore Biomedical by 8.5% in the 4th quarter. State Street Corp now owns 585,386 shares of the company's stock valued at $4,788,000 after acquiring an additional 46,102 shares in the last quarter. Institutional investors own 83.36% of the company's stock.

Lifecore Biomedical Company Profile

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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