Lifecore Biomedical (NASDAQ:LFCR) Price Target Raised to $6.50

Lifecore Biomedical (NASDAQ:LFCR) had its price target raised by research analysts at Barrington Research from $6.00 to $6.50 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price objective points to a potential upside of 18.40% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.50.

Lifecore Biomedical Price Performance

Shares of LFCR opened at $5.49 on Tuesday. The firm has a 50-day moving average of $4.98 and a 200-day moving average of $6.39. Lifecore Biomedical has a one year low of $3.63 and a one year high of $8.98. The company has a market cap of $205.93 million, a PE ratio of -5.84 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). Lifecore Biomedical had a negative net margin of 25.43% and a negative return on equity of 1,643.15%. The firm had revenue of $23.19 million during the quarter, compared to the consensus estimate of $25.96 million. Analysts expect that Lifecore Biomedical will post -0.97 earnings per share for the current year.

Institutional Trading of Lifecore Biomedical

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $104,000 after buying an additional 1,886 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Lifecore Biomedical by 92.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,791 shares of the company’s stock worth $43,000 after buying an additional 2,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lifecore Biomedical by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,646 shares of the company’s stock worth $137,000 after buying an additional 2,826 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Lifecore Biomedical by 28.4% during the 4th quarter. AQR Capital Management LLC now owns 16,171 shares of the company’s stock worth $132,000 after buying an additional 3,574 shares during the last quarter. Finally, Quarry LP acquired a new stake in Lifecore Biomedical in the 3rd quarter worth about $28,000. Institutional investors and hedge funds 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.