Lifecore Biomedical (NASDAQ:LFCR) Cut to Hold at Barrington Research

Barrington Research downgraded shares of Lifecore Biomedical (NASDAQ:LFCR) from an outperform rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports.

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

Lifecore Biomedical Trading Down 0.8%

NASDAQ LFCR opened at $6.53 on Tuesday. The company has a market cap of $247.16 million, a price-to-earnings ratio of -6.10 and a beta of 0.97. The company has a 50 day moving average of $4.62 and a 200-day moving average of $4.77. Lifecore Biomedical has a 1-year low of $3.63 and a 1-year high of $8.98.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly 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 company had revenue of $34.17 million for the quarter, compared to analyst estimates of $34.18 million. On average, equities research analysts forecast that Lifecore Biomedical will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Lifecore Biomedical

A number of institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its stake in Lifecore Biomedical by 76.8% in the second quarter. Squarepoint Ops LLC now owns 92,674 shares of the company’s stock valued at $487,000 after buying an additional 40,270 shares in the last quarter. Bank of America Corp DE acquired a new position in Lifecore Biomedical during the second quarter worth about $195,000. Tocqueville Asset Management L.P. acquired a new position in Lifecore Biomedical during the second quarter worth about $796,000. DCF Advisers LLC bought a new position in shares of Lifecore Biomedical in the second quarter worth about $2,229,000. Finally, BlackRock Inc. acquired a new stake in shares of Lifecore Biomedical in the 2nd quarter valued at approximately $10,569,000. Institutional investors and hedge funds own 83.36% of the company’s stock.

Lifecore Biomedical Company Profile

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.