Lifecore Biomedical’s (LFCR) “Equal Weight” Rating Reaffirmed at Stephens

Lifecore Biomedical (NASDAQ:LFCR)‘s stock had its “equal weight” rating restated by equities researchers at Stephens in a note issued to investors on Friday,Benzinga reports. They presently have a $6.00 price target on the stock. Stephens’ price objective would suggest a potential downside of 9.91% from the company’s current price.

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

Lifecore Biomedical Trading Down 10.4 %

NASDAQ LFCR opened at $6.66 on Friday. Lifecore Biomedical has a 1-year low of $3.68 and a 1-year high of $8.90. The firm’s fifty day simple moving average is $6.98 and its 200-day simple moving average is $5.77. The company has a current ratio of 1.83, a quick ratio of 0.80 and a debt-to-equity ratio of 12.90. The company has a market capitalization of $245.27 million, a PE ratio of 83.25 and a beta of 0.98.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly 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%. As a group, sell-side analysts anticipate that Lifecore Biomedical will post -0.99 earnings per share for the current fiscal year.

Institutional Trading of Lifecore Biomedical

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP increased its position in Lifecore Biomedical by 87.3% during the 2nd quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock worth $1,540,000 after buying an additional 139,887 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Lifecore Biomedical by 2,640.5% in the third quarter. BNP Paribas Financial Markets now owns 54,399 shares of the company’s stock valued at $268,000 after acquiring an additional 52,414 shares in the last quarter. State Street Corp increased its position in Lifecore Biomedical by 10.2% during the third quarter. State Street Corp now owns 334,360 shares of the company’s stock worth $1,648,000 after acquiring an additional 30,916 shares during the period. Rhumbline Advisers raised its stake in Lifecore Biomedical by 1,668.5% in the 2nd quarter. Rhumbline Advisers now owns 26,899 shares of the company’s stock worth $138,000 after purchasing an additional 25,378 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Lifecore Biomedical in the 2nd quarter valued at about $56,000. 83.36% of the stock is owned by institutional investors and hedge funds.

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.