Lifecore Biomedical (NASDAQ:LFCR) Announces Quarterly Earnings Results, Misses Estimates By $0.78 EPS

Lifecore Biomedical (NASDAQ:LFCR) posted its quarterly earnings results on Wednesday. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.78), FiscalAI reports. The business had revenue of $25.32 million for the quarter, compared to the consensus estimate of $25.57 million.

Lifecore Biomedical Stock Performance

Shares of LFCR traded down $0.01 during trading hours on Wednesday, hitting $6.42. The stock had a trading volume of 127,872 shares, compared to its average volume of 283,410. The firm has a 50-day moving average price of $5.50 and a 200 day moving average price of $5.52. 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 capitalization of $243.19 million, a price-to-earnings ratio of -6.00 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. William Blair cut shares of Lifecore Biomedical from an “outperform” rating to a “hold” rating in a report on Monday, September 28th. Weiss Ratings raised shares of Lifecore Biomedical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 16th. Craig Hallum downgraded Lifecore Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Barrington Research lowered Lifecore Biomedical from an “outperform” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Zacks Research raised Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Four investment 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, the stock currently has an average rating of “Reduce” and an average price target of $6.50.

About Lifecore Biomedical

Lifecore Biomedical, Inc is a contract development and manufacturing organization that provides development, formulation, aseptic filling, packaging and other manufacturing services for pharmaceutical and biopharmaceutical companies. The company specializes in complex sterile injectable products and supports customers from development through commercial production.

Lifecore has particular expertise in hyaluronic acid, a naturally occurring substance used in ophthalmic, orthopedic, aesthetic and other medical applications.