Lifecore Biomedical (NASDAQ:LFCR) Rating Lowered to Strong Sell at Zacks Research

Lifecore Biomedical (NASDAQ:LFCR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Wall Street Zen upgraded Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Barrington Research boosted their price target on Lifecore Biomedical from $6.00 to $6.50 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Finally, Weiss Ratings downgraded Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $6.50.

Lifecore Biomedical Price Performance

Shares of LFCR stock opened at $5.27 on Tuesday. The business’s fifty day moving average price is $5.13 and its 200 day moving average price is $6.20. Lifecore Biomedical has a 1-year low of $3.63 and a 1-year high of $8.98. The firm has a market capitalization of $197.68 million, a PE ratio of -5.61 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last released its earnings results on Wednesday, May 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). The business had revenue of $23.19 million during the quarter, compared to the consensus estimate of $25.96 million. Equities research analysts expect that Lifecore Biomedical will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lifecore Biomedical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Lifecore Biomedical by 14.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,785 shares of the company’s stock valued at $104,000 after buying an additional 1,886 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Lifecore Biomedical by 16.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,998 shares of the company’s stock worth $620,000 after purchasing an additional 12,647 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lifecore Biomedical by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 775,493 shares of the company’s stock worth $6,299,000 after acquiring an additional 24,995 shares during the period. Rhumbline Advisers raised its holdings in shares of Lifecore Biomedical by 54.0% during the second quarter. Rhumbline Advisers now owns 38,091 shares of the company’s stock valued at $309,000 after buying an additional 13,361 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in Lifecore Biomedical during the 2nd quarter worth $3,081,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

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.