Lifecore Biomedical (NASDAQ:LFCR) Stock Price Expected to Rise, Craig Hallum Analyst Says

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

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

Lifecore Biomedical Trading Up 2.1 %

Shares of NASDAQ LFCR opened at $7.46 on Friday. The firm’s 50 day moving average price is $5.63 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 company has a debt-to-equity ratio of 12.90, a quick ratio of 0.80 and a current ratio of 1.83. The company has a market cap of $274.75 million, a PE ratio of 93.25 and a beta of 0.94.

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

Insiders Place Their Bets

In other Lifecore Biomedical news, major shareholder Wynnefield Partners Small Cap acquired 122,930 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average price of $4.10 per share, with a total value of $504,013.00. Following the completion of the acquisition, the insider now owns 2,095,783 shares in the company, valued at $8,592,710.30. This represents a 6.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LFCR. Allegheny Financial Group LTD bought a new stake in shares of Lifecore Biomedical during the 2nd quarter valued at $52,000. Renaissance Technologies LLC bought a new stake in Lifecore Biomedical during the second quarter valued at about $56,000. SG Americas Securities LLC purchased a new stake in Lifecore Biomedical in the first quarter worth about $57,000. Creative Planning bought a new position in shares of Lifecore Biomedical in the third quarter worth about $69,000. Finally, Boston Partners purchased a new position in shares of Lifecore Biomedical during the 1st quarter valued at about $104,000. 83.36% of the stock is currently owned by institutional investors.

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.