Lifecore Biomedical (NASDAQ:LFCR) Announces Quarterly Earnings Results

Lifecore Biomedical (NASDAQ:LFCR) issued its quarterly earnings data on Wednesday. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.78), FiscalAI reports. The business had revenue of $25.32 million during the quarter, compared to the consensus estimate of $25.57 million.

Lifecore Biomedical Price Performance

LFCR traded down $0.01 on Wednesday, reaching $6.42. 127,872 shares of the company’s stock were exchanged, compared to its average volume of 283,410. The stock has a market cap of $243.19 million, a PE ratio of -6.00 and a beta of 0.99. Lifecore Biomedical has a twelve month low of $3.63 and a twelve month high of $8.98. The stock’s fifty day moving average price is $5.50 and its 200-day moving average price is $5.52.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. William Blair cut shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research report on Monday, September 28th. Barrington Research downgraded shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a report on Tuesday, September 29th. Zacks Research upgraded shares of Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Craig Hallum cut shares of Lifecore Biomedical from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $6.50.

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.