Lifecore Biomedical (NASDAQ:LFCR) Price Target Raised to $10.00

Lifecore Biomedical (NASDAQ:LFCR) had its price objective raised by Craig Hallum from $8.00 to $10.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Barrington Research lowered shares of Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th.

Lifecore Biomedical Stock Performance

Shares of LFCR stock opened at $7.31 on Friday. The firm has a 50 day moving average of $5.58 and a 200-day moving average of $5.45. The company has a market cap of $269.21 million, a price-to-earnings ratio of 91.38 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. Lifecore Biomedical has a 52 week low of $3.68 and a 52 week high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR) last posted its quarterly earnings results on Friday, October 4th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.07). Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. The company had revenue of $24.71 million during the quarter, compared to analyst estimates of $23.30 million. On average, equities analysts forecast that Lifecore Biomedical will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Lifecore Biomedical

In other news, major shareholder Wynnefield Partners Small Cap acquired 122,930 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was purchased at an average price of $4.10 per share, for a total transaction of $504,013.00. Following the purchase, the insider now owns 2,095,783 shares in the company, valued at approximately $8,592,710.30. This represents a 6.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 28.21% of the company’s stock.

Hedge Funds Weigh In On Lifecore Biomedical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP lifted its holdings in Lifecore Biomedical by 87.3% during the second quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock worth $1,540,000 after acquiring an additional 139,887 shares during the period. Boston Partners purchased a new position in Lifecore Biomedical in the first quarter valued at approximately $104,000. Rhumbline Advisers grew its holdings in Lifecore Biomedical by 1,668.5% during the second quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock valued at $138,000 after purchasing an additional 25,378 shares during the period. SG Americas Securities LLC purchased a new stake in Lifecore Biomedical in the first quarter worth $57,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Lifecore Biomedical in the first quarter valued at $114,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

About Lifecore Biomedical

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.