Lifecore Biomedical (NASDAQ:LFCR) Raised to Hold at Zacks Research

Lifecore Biomedical (NASDAQ:LFCR) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

LFCR has been the topic of a number of other research reports. KeyCorp began coverage on Lifecore Biomedical in a report on Wednesday, September 3rd. They set a “sector weight” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Lifecore Biomedical in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Lifecore Biomedical Price Performance

Lifecore Biomedical stock opened at $7.74 on Thursday. The firm has a market capitalization of $290.02 million, a PE ratio of -7.23 and a beta of 0.59. Lifecore Biomedical has a 52 week low of $4.76 and a 52 week high of $8.85. The firm’s 50-day simple moving average is $7.68 and its 200 day simple moving average is $7.51. The company has a quick ratio of 1.67, a current ratio of 2.80 and a debt-to-equity ratio of 113.76.

Lifecore Biomedical (NASDAQ:LFCR) last announced its earnings results on Monday, April 1st. The company reported ($0.22) earnings per share (EPS) for the quarter. The business had revenue of $26.54 million for the quarter. Lifecore Biomedical had a negative return on equity of 1,211.09% and a negative net margin of 25.59%. On average, equities research analysts predict that Lifecore Biomedical will post -0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Lifecore Biomedical

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Lifecore Biomedical during the third quarter worth about $28,000. BNP Paribas Financial Markets increased its stake in shares of Lifecore Biomedical by 92.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,791 shares of the company’s stock valued at $43,000 after acquiring an additional 2,786 shares during the last quarter. State of Wyoming purchased a new position in shares of Lifecore Biomedical during the 2nd quarter worth about $69,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Lifecore Biomedical in the second quarter worth approximately $88,000. Finally, GWN Securities Inc. purchased a new stake in Lifecore Biomedical in the second quarter valued at approximately $106,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

Lifecore Biomedical Company Profile

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.