Stephens Reaffirms “Equal Weight” Rating for Lifecore Biomedical (NASDAQ:LFCR)

Stephens reaffirmed their equal weight rating on shares of Lifecore Biomedical (NASDAQ:LFCR) in a research report sent to investors on Friday morning,Benzinga reports. Stephens currently has a $6.00 price objective on the stock.

Separately, Craig Hallum increased their target price on Lifecore Biomedical from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

Lifecore Biomedical Stock Performance

LFCR stock opened at $7.62 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 fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $5.79. Lifecore Biomedical has a twelve month low of $3.68 and a twelve month high of $8.90. The firm has a market cap of $280.62 million, a price-to-earnings ratio of 95.25 and a beta of 0.98.

Lifecore Biomedical (NASDAQ:LFCR) last released its earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. Analysts predict that Lifecore Biomedical will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Lifecore Biomedical

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Lifecore Biomedical during the second quarter valued at $56,000. Creative Planning purchased a new position in shares of Lifecore Biomedical during the third quarter valued at $69,000. Public Employees Retirement System of Ohio purchased a new position in shares of Lifecore Biomedical during the third quarter valued at $119,000. Rhumbline Advisers increased its stake in shares of Lifecore Biomedical by 1,668.5% during the second quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock valued at $138,000 after buying an additional 25,378 shares during the period. Finally, Barclays PLC grew its stake in Lifecore Biomedical by 301.7% in the third quarter. Barclays PLC now owns 29,944 shares of the company’s stock valued at $147,000 after purchasing an additional 22,489 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

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.