Lifecore Biomedical (NASDAQ:LFCR) Cut to Hold at William Blair

William Blair downgraded shares of Lifecore Biomedical (NASDAQ:LFCR) from an outperform rating to a hold rating in a research report released on Monday morning, Marketbeat reports.

Several other brokerages have also commented on LFCR. Zacks Research raised Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 9th. Finally, Barrington Research upped their price objective on shares of Lifecore Biomedical from $6.00 to $6.50 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $6.50.

Lifecore Biomedical Stock Performance

Shares of NASDAQ:LFCR opened at $6.58 on Monday. Lifecore Biomedical has a 52-week low of $3.63 and a 52-week high of $8.98. The firm has a market capitalization of $249.05 million, a P/E ratio of -6.15 and a beta of 1.08. The stock has a 50 day moving average price of $4.58 and a 200-day moving average price of $4.77.

Lifecore Biomedical (NASDAQ:LFCR) last released its earnings results on Wednesday, August 5th. The company reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). The firm had revenue of $34.17 million during the quarter, compared to analysts’ expectations of $34.18 million. On average, equities analysts forecast that Lifecore Biomedical will post -1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Lifecore Biomedical

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Lifecore Biomedical in the 2nd quarter worth approximately $10,569,000. DCF Advisers LLC bought a new position in Lifecore Biomedical in the 2nd quarter valued at approximately $2,229,000. Tocqueville Asset Management L.P. bought a new position in Lifecore Biomedical in the 2nd quarter valued at approximately $796,000. GSA Capital Partners LLP purchased a new stake in Lifecore Biomedical during the 2nd quarter valued at $462,000. Finally, Bank of New York Mellon Corp purchased a new stake in Lifecore Biomedical during the 2nd quarter valued at $353,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Lifecore Biomedical

Here are the key news stories impacting Lifecore Biomedical this week:

• Positive Sentiment: Lifecore agreed to be acquired by Webster Equity Partners for $6.28 per share in cash, with additional CVR payments potentially reaching $160 million. The transaction establishes a near-term valuation reference and offers shareholders a defined cash consideration. Lifecore agrees to acquisition with CVRs up to $160 million
• Neutral Sentiment: The proposed sale has prompted investigations by Kahn Swick & Foti, Brodsky & Smith, and Monteverde & Associates. The firms are examining whether the board followed a fair process and whether the $6.28 offer adequately values Lifecore; these announcements do not establish wrongdoing but could affect deal timing or terms. Kahn Swick & Foti investigation
• Negative Sentiment: Craig Hallum downgraded Lifecore from “strong buy” to “hold,” while William Blair lowered its view to “hold” or “market perform.” Barrington Research also cut its rating from “outperform” to “hold.” The revisions suggest limited upside beyond the transaction consideration and may reduce buying interest. William Blair downgrade

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc is a contract development and manufacturing organization (CDMO) that provides services to pharmaceutical, biotechnology and medical device companies. The company specializes in complex sterile injectable products and supports customers through product development, process development, manufacturing, aseptic filling, packaging and related regulatory services.

Lifecore’s capabilities include the production of injectable products using fermentation and other specialized manufacturing processes.