Lifecore Biomedical (NASDAQ:LFCR) Price Target Raised to $6.50

Lifecore Biomedical (NASDAQ:LFCR) had its price objective raised by research analysts at Barrington Research from $6.00 to $6.50 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s price objective indicates a potential upside of 18.40% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.50.

Lifecore Biomedical Stock Performance

LFCR opened at $5.49 on Tuesday. The firm’s fifty day moving average is $4.98 and its two-hundred day moving average is $6.39. Lifecore Biomedical has a twelve month low of $3.63 and a twelve month high of $8.98. The firm has a market cap of $205.93 million, a PE ratio of -5.84 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.14). Lifecore Biomedical had a negative return on equity of 1,643.15% and a negative net margin of 25.43%.The company had revenue of $23.19 million for the quarter, compared to the consensus estimate of $25.96 million. Equities analysts forecast that Lifecore Biomedical will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LFCR. Quarry LP bought a new position in Lifecore Biomedical in the third quarter valued at $28,000. BNP Paribas Financial Markets grew its position in shares of Lifecore Biomedical by 92.7% in 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 period. China Universal Asset Management Co. Ltd. bought a new position in shares of Lifecore Biomedical in the 4th quarter valued at about $50,000. SG Americas Securities LLC bought a new position in shares of Lifecore Biomedical in the 1st quarter valued at about $64,000. Finally, State of Wyoming bought a new position in shares of Lifecore Biomedical in the 2nd quarter valued at about $69,000. Institutional investors own 83.36% of the company’s stock.

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.