Lifecore Biomedical (NASDAQ:LFCR) Releases Quarterly Earnings Results, Misses Expectations By $0.78 EPS

Lifecore Biomedical (NASDAQ:LFCR) released its quarterly earnings results on Wednesday. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.78), FiscalAI reports. The company had revenue of $25.32 million during the quarter, compared to analyst estimates of $25.57 million.

Lifecore Biomedical Stock Performance

LFCR stock traded down $0.01 during trading on Wednesday, hitting $6.42. The stock had a trading volume of 135,371 shares, compared to its average volume of 283,420. Lifecore Biomedical has a 1-year low of $3.63 and a 1-year high of $8.98. The stock has a market cap of $243.19 million, a price-to-earnings ratio of -6.00 and a beta of 0.99. The company’s 50 day moving average price is $5.50 and its two-hundred day moving average price is $5.52.

Analysts Set New Price Targets

Several analysts have weighed in on LFCR shares. Zacks Research raised Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 16th. Barrington Research cut shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Tuesday, September 29th. Craig Hallum downgraded Lifecore Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, William Blair lowered Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Monday, September 28th. Four research 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 company presently has an average rating of “Reduce” and an average price target of $6.50.

Lifecore Biomedical Company Profile

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.