Lifecore Biomedical (NASDAQ:LFCR) Lowered to “Strong Sell” Rating by Zacks Research

Lifecore Biomedical (NASDAQ:LFCR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings cut Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Barrington Research upped their target price on Lifecore Biomedical from $6.00 to $6.50 and gave the company an “outperform” rating in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $6.50.

Lifecore Biomedical Stock Performance

Shares of NASDAQ:LFCR opened at $5.27 on Tuesday. Lifecore Biomedical has a 52 week low of $3.63 and a 52 week high of $8.98. The firm has a market cap of $197.68 million, a PE ratio of -5.61 and a beta of 1.06. The firm’s fifty day moving average is $5.13 and its 200-day moving average is $6.20.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). The company had revenue of $23.19 million during the quarter, compared to analyst estimates of $25.96 million. Sell-side analysts forecast that Lifecore Biomedical will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Lifecore Biomedical

A number of institutional investors and hedge funds have recently modified their holdings of LFCR. Invesco Ltd. bought a new stake in shares of Lifecore Biomedical in the 2nd quarter valued at $3,081,000. Squarepoint Ops LLC boosted its holdings in Lifecore Biomedical by 385.9% in the third quarter. Squarepoint Ops LLC now owns 150,909 shares of the company’s stock worth $1,111,000 after acquiring an additional 119,851 shares in the last quarter. Millennium Management LLC grew its stake in Lifecore Biomedical by 86.2% in the fourth quarter. Millennium Management LLC now owns 251,705 shares of the company’s stock valued at $2,059,000 after acquiring an additional 116,500 shares during the period. Quinn Opportunity Partners LLC grew its stake in Lifecore Biomedical by 31.5% in the fourth quarter. Quinn Opportunity Partners LLC now owns 242,670 shares of the company’s stock valued at $1,985,000 after acquiring an additional 58,189 shares during the period. Finally, State Street Corp increased its holdings in shares of Lifecore Biomedical by 8.5% during the fourth quarter. State Street Corp now owns 585,386 shares of the company’s stock valued at $4,788,000 after acquiring an additional 46,102 shares in the last quarter. 83.36% of the stock is currently owned by institutional investors.

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.