Craig Hallum Issues Positive Forecast for Lifecore Biomedical (NASDAQ:LFCR) Stock Price

Lifecore Biomedical (NASDAQ:LFCR) had its target price boosted by Craig Hallum from $8.00 to $10.00 in a report released on Friday morning,Benzinga reports. Craig Hallum currently has 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 report on Wednesday, August 28th.

Lifecore Biomedical Trading Up 4.7 %

NASDAQ LFCR opened at $7.31 on Friday. The stock’s 50-day simple moving average is $5.58 and its two-hundred day simple moving average is $5.45. Lifecore Biomedical has a twelve month low of $3.68 and a twelve month high of $8.90. 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 company has a market capitalization of $269.21 million, a price-to-earnings ratio of 91.38 and a beta of 0.94.

Lifecore Biomedical (NASDAQ:LFCR) last released its earnings results on Friday, October 4th. The company reported ($0.53) earnings per share 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 firm had revenue of $24.71 million during the quarter, compared to the consensus estimate of $23.30 million. Research analysts forecast that Lifecore Biomedical will post -0.99 EPS for the current fiscal year.

Insider Activity at Lifecore Biomedical

In other news, major shareholder Wynnefield Partners Small Cap bought 122,930 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average cost of $4.10 per share, with a total value of $504,013.00. Following the completion of the purchase, the insider now directly owns 2,095,783 shares in the company, valued at $8,592,710.30. This represents a 6.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 28.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lifecore Biomedical

A number of large investors have recently added to or reduced their stakes in the company. DCF Advisers LLC boosted its holdings in shares of Lifecore Biomedical by 2.1% during the second quarter. DCF Advisers LLC now owns 290,684 shares of the company’s stock worth $1,491,000 after purchasing an additional 6,000 shares during the period. Allegheny Financial Group LTD purchased a new stake in Lifecore Biomedical in the 2nd quarter worth approximately $52,000. SG Americas Securities LLC purchased a new stake in Lifecore Biomedical in the 1st quarter worth approximately $57,000. Renaissance Technologies LLC purchased a new stake in shares of Lifecore Biomedical in the 2nd quarter worth about $56,000. Finally, Creative Planning purchased a new position in shares of Lifecore Biomedical during the third quarter valued at about $69,000. Institutional investors own 83.36% of the company’s stock.

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.