Lifecore Biomedical (NASDAQ:LFCR) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Lifecore Biomedical (NASDAQ:LFCR) from a hold rating to a sell rating in a report released on Saturday morning.

Several other brokerages have also issued reports on LFCR. Weiss Ratings lowered Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. Barrington Research lifted their price target on Lifecore Biomedical from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.00.

Lifecore Biomedical Trading Up 0.4%

Shares of NASDAQ LFCR opened at $4.79 on Friday. Lifecore Biomedical has a one year low of $3.63 and a one year high of $8.98. The firm has a market capitalization of $179.67 million, a PE ratio of -5.10 and a beta of 1.08. The business has a 50-day moving average price of $5.19 and a two-hundred day moving average price of $6.81.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.14). The firm had revenue of $23.19 million for the quarter, compared to analyst estimates of $25.96 million. Lifecore Biomedical had a negative net margin of 25.43% and a negative return on equity of 1,211.09%. Research analysts anticipate that Lifecore Biomedical will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Lifecore Biomedical

Several institutional investors and hedge funds have recently added to or reduced their stakes in LFCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Lifecore Biomedical by 14.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,785 shares of the company’s stock worth $104,000 after buying an additional 1,886 shares during the period. Goldman Sachs Group Inc. increased its position in 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 buying an additional 12,647 shares during the period. Geode Capital Management LLC increased its position in 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 buying an additional 24,995 shares during the period. Rhumbline Advisers increased its position in Lifecore Biomedical by 54.0% in the 2nd quarter. Rhumbline Advisers now owns 38,091 shares of the company’s stock worth $309,000 after buying an additional 13,361 shares during the period. Finally, Invesco Ltd. bought a new position in Lifecore Biomedical in the 2nd quarter worth approximately $3,081,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

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.