Craig Hallum Increases Lifecore Biomedical (NASDAQ:LFCR) Price Target to $10.00

Lifecore Biomedical (NASDAQ:LFCR) had its price target upped by investment analysts at Craig Hallum from $8.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 36.80% from the company’s current price.

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

Lifecore Biomedical Trading Up 4.7 %

NASDAQ:LFCR opened at $7.31 on Friday. The company has a market cap of $269.23 million, a PE ratio of 91.38 and a beta of 0.94. The business’s 50 day moving average is $5.58 and its two-hundred day moving average is $5.46. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90. Lifecore Biomedical has a 52 week low of $3.68 and a 52 week high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR) last announced its quarterly earnings data on Friday, October 4th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.30 million. On average, analysts predict that Lifecore Biomedical will post -0.99 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Wynnefield Partners Small Cap acquired 122,930 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were purchased at an average cost of $4.10 per share, for a total transaction of $504,013.00. Following the transaction, the insider now directly owns 2,095,783 shares in the company, valued at $8,592,710.30. This trade represents a 6.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 28.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lifecore Biomedical

Large investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in Lifecore Biomedical by 301.7% in the 3rd quarter. Barclays PLC now owns 29,944 shares of the company’s stock worth $147,000 after buying an additional 22,489 shares in the last quarter. Geode Capital Management LLC boosted its position in Lifecore Biomedical by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 597,685 shares of the company’s stock worth $2,948,000 after acquiring an additional 55,703 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Lifecore Biomedical in the third quarter worth $119,000. Jane Street Group LLC increased its holdings in shares of Lifecore Biomedical by 101.7% during the third quarter. Jane Street Group LLC now owns 36,246 shares of the company’s stock valued at $179,000 after purchasing an additional 18,277 shares during the period. Finally, State Street Corp raised its stake in shares of Lifecore Biomedical by 10.2% during the third quarter. State Street Corp now owns 334,360 shares of the company’s stock valued at $1,648,000 after purchasing an additional 30,916 shares in the last quarter. Institutional investors and hedge funds 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.