Lifecore Biomedical (NASDAQ:LFCR) Cut to Hold at Craig Hallum

Lifecore Biomedical (NASDAQ:LFCR) was downgraded by equities research analysts at Craig Hallum from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

LFCR has been the subject of several other research reports. Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Barrington Research lowered shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Tuesday. William Blair cut shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a report on Monday. Weiss Ratings upgraded shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 9th. Finally, Zacks Research raised Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lifecore Biomedical has a consensus rating of “Reduce” and a consensus price target of $6.50.

Lifecore Biomedical Stock Up 1.1%

Shares of Lifecore Biomedical stock opened at $6.59 on Monday. The business has a fifty day simple moving average of $4.54 and a 200-day simple moving average of $4.77. Lifecore Biomedical has a fifty-two week low of $3.63 and a fifty-two week high of $8.98. The firm has a market cap of $249.43 million, a price-to-earnings ratio of -6.16 and a beta of 1.08.

Lifecore Biomedical (NASDAQ:LFCR) last released its earnings results on Wednesday, August 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $34.17 million for the quarter, compared to analyst estimates of $34.18 million. Analysts anticipate that Lifecore Biomedical will post -1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lifecore Biomedical

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Lifecore Biomedical during the first quarter valued at about $64,000. Wittenberg Investment Management Inc. increased its position in shares of Lifecore Biomedical by 26.1% in the fourth quarter. Wittenberg Investment Management Inc. now owns 21,723 shares of the company’s stock worth $178,000 after acquiring an additional 4,500 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Lifecore Biomedical in the second quarter worth approximately $137,000. Bank of America Corp DE acquired a new stake in shares of Lifecore Biomedical during the second quarter valued at approximately $195,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Lifecore Biomedical during the second quarter valued at approximately $353,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

About Lifecore Biomedical

Lifecore Biomedical, Inc is a contract development and manufacturing organization (CDMO) that provides services to pharmaceutical, biotechnology and medical device companies. The company specializes in complex sterile injectable products and supports customers through product development, process development, manufacturing, aseptic filling, packaging and related regulatory services.

Lifecore’s capabilities include the production of injectable products using fermentation and other specialized manufacturing processes.