Lifecore Biomedical (NASDAQ:LFCR) Given New $10.00 Price Target at Craig Hallum

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

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

Lifecore Biomedical Stock Up 2.1 %

LFCR opened at $7.46 on Friday. The business’s fifty day simple moving average is $5.63 and its 200 day simple moving average 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 quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. The stock 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 announced its quarterly earnings data on Friday, October 4th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.07). The firm had revenue of $24.71 million for the quarter, compared to the consensus estimate of $23.30 million. Lifecore Biomedical had a net margin of 5.09% and a negative return on equity of 382.65%. As a group, research analysts expect that Lifecore Biomedical will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lifecore Biomedical news, major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of $4.10 per share, with a total value of $504,013.00. Following the transaction, the insider now directly owns 2,095,783 shares of the company’s stock, valued at approximately $8,592,710.30. This trade represents a 6.23 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 28.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lifecore Biomedical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allegheny Financial Group LTD purchased a new stake in Lifecore Biomedical in the second quarter worth $52,000. SG Americas Securities LLC bought a new position in shares of Lifecore Biomedical in the 1st quarter worth about $57,000. Renaissance Technologies LLC purchased a new position in Lifecore Biomedical during the 2nd quarter valued at about $56,000. Creative Planning bought a new stake in Lifecore Biomedical during the third quarter worth about $69,000. Finally, Boston Partners bought a new stake in shares of Lifecore Biomedical in the 1st quarter worth approximately $104,000. 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.