Lifecore Biomedical, Inc. (NASDAQ:LFCR) Stock Has Average Target Price of $6.50 According to Brokerages

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) have been given an average recommendation of “Reduce” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.50.

LFCR has been the topic of several research analyst reports. Weiss Ratings raised Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. William Blair lowered Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Monday, September 28th. Craig Hallum cut Lifecore Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Zacks Research upgraded Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Barrington Research lowered Lifecore Biomedical from an “outperform” rating to a “hold” rating in a report on Tuesday, September 29th.

Lifecore Biomedical Trading Up 0.5%

NASDAQ:LFCR opened at $6.40 on Friday. The firm has a market capitalization of $242.26 million, a PE ratio of -5.98 and a beta of 0.98. Lifecore Biomedical has a 1 year low of $3.63 and a 1 year high of $8.98. The firm’s fifty day simple moving average is $5.22 and its 200 day simple moving average is $5.04.

Lifecore Biomedical (NASDAQ:LFCR) last released its earnings results on Wednesday, August 5th. The company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $34.17 million for the quarter, compared to analyst estimates of $34.18 million. As a group, analysts anticipate that Lifecore Biomedical will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Lifecore Biomedical

Lifecore Biomedical, Inc is a contract development and manufacturing organization that provides development, formulation, aseptic filling, packaging and other manufacturing services for pharmaceutical and biopharmaceutical companies. The company specializes in complex sterile injectable products and supports customers from development through commercial production.

Lifecore has particular expertise in hyaluronic acid, a naturally occurring substance used in ophthalmic, orthopedic, aesthetic and other medical applications.