Lifecore Biomedical (NASDAQ:LFCR) Lowered to Strong Sell Rating by Zacks Research

Lifecore Biomedical (NASDAQ:LFCR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms also recently commented on LFCR. Wall Street Zen raised Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Barrington Research upped their price objective on Lifecore Biomedical from $6.00 to $6.50 and gave the company an “outperform” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lifecore Biomedical has an average rating of “Reduce” and an average target price of $6.50.

Lifecore Biomedical Stock Performance

Shares of LFCR stock opened at $5.27 on Tuesday. The company has a market capitalization of $197.68 million, a price-to-earnings ratio of -5.61 and a beta of 1.06. The company has a 50-day simple moving average of $5.13 and a 200 day simple moving average of $6.20. Lifecore Biomedical has a 52 week low of $3.63 and a 52 week high of $8.98.

Lifecore Biomedical (NASDAQ:LFCR) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.14). The business had revenue of $23.19 million for the quarter, compared to analysts’ expectations of $25.96 million. Sell-side analysts forecast that Lifecore Biomedical will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Lifecore Biomedical

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Lifecore Biomedical by 64.4% in the 1st quarter. Bank of America Corp DE now owns 43,298 shares of the company’s stock valued at $161,000 after buying an additional 16,961 shares during the period. SG Americas Securities LLC acquired a new position in Lifecore Biomedical in the 1st quarter worth about $64,000. Millennium Management LLC raised its position in Lifecore Biomedical by 86.2% in the fourth quarter. Millennium Management LLC now owns 251,705 shares of the company’s stock valued at $2,059,000 after purchasing an additional 116,500 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Lifecore Biomedical by 28.4% during the fourth quarter. AQR Capital Management LLC now owns 16,171 shares of the company’s stock valued at $132,000 after purchasing an additional 3,574 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Lifecore Biomedical during the fourth quarter worth about $123,000. Institutional investors and hedge funds own 83.36% of the company’s stock.

About Lifecore Biomedical

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.