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

Lifecore Biomedical (NASDAQ:LFCR) had its price objective increased by stock analysts at Craig Hallum from $8.00 to $10.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target indicates a potential upside of 36.80% from the company’s current price.

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

Lifecore Biomedical Price Performance

NASDAQ:LFCR opened at $7.31 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. The business’s 50-day moving average price is $5.58 and its 200 day moving average price is $5.46. Lifecore Biomedical has a 52-week low of $3.68 and a 52-week high of $8.90. The firm has a market cap of $269.23 million, a P/E ratio of 91.38 and a beta of 0.94.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings data on Friday, October 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $24.71 million during the quarter, compared to analyst estimates of $23.30 million. As a group, sell-side analysts predict that Lifecore Biomedical will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Lifecore Biomedical

In other news, major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were acquired at an average price of $4.10 per share, for a total transaction of $504,013.00. Following the completion of the acquisition, the insider now directly owns 2,095,783 shares of the company’s stock, valued at $8,592,710.30. The trade was a 6.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 28.21% of the company’s stock.

Hedge Funds Weigh In On Lifecore Biomedical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Lifecore Biomedical by 301.7% in the third quarter. Barclays PLC now owns 29,944 shares of the company’s stock worth $147,000 after buying an additional 22,489 shares during the period. Geode Capital Management LLC lifted its stake in Lifecore Biomedical by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 597,685 shares of the company’s stock worth $2,948,000 after acquiring an additional 55,703 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Lifecore Biomedical in the 3rd quarter worth about $119,000. Jane Street Group LLC grew its stake in Lifecore Biomedical by 101.7% during the 3rd quarter. Jane Street Group LLC now owns 36,246 shares of the company’s stock valued at $179,000 after acquiring an additional 18,277 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Lifecore Biomedical by 10.2% in the 3rd quarter. State Street Corp now owns 334,360 shares of the company’s stock valued at $1,648,000 after purchasing an additional 30,916 shares during the period. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

Lifecore Biomedical Company Profile

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.