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

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) had its price target increased by equities research analysts at Craig Hallum from $8.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Craig Hallum's target price would indicate a potential upside of 36.80% from the stock's current price.

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

Lifecore Biomedical Price Performance

LFCR traded up $0.33 on Friday, reaching $7.31. The company had a trading volume of 207,488 shares, compared to its average volume of 204,188. The business has a 50 day simple moving average of $5.58 and a 200 day simple moving average of $5.46. The company has a market cap of $269.23 million, a price-to-earnings ratio of 91.38 and a beta of 0.94. The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.80 and a current ratio of 1.83. Lifecore Biomedical has a 52-week low of $3.68 and a 52-week high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last posted its quarterly 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). The business had revenue of $24.71 million for the quarter, compared to analysts' expectations of $23.30 million. 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 EPS for the current year.

Insider Activity at Lifecore Biomedical

In other Lifecore Biomedical news, major shareholder Wynnefield Partners Small Cap bought 122,930 shares of the company's stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average price of $4.10 per share, for a total transaction of $504,013.00. Following the acquisition, the insider now owns 2,095,783 shares in the company, valued at approximately $8,592,710.30. This represents a 6.23 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 28.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lifecore Biomedical

Hedge funds have recently bought and sold shares of the company. Allegheny Financial Group LTD bought a new position in Lifecore Biomedical in the 2nd quarter worth about $52,000. SG Americas Securities LLC purchased a new position in Lifecore Biomedical in the 1st quarter worth about $57,000. Renaissance Technologies LLC purchased a new position in Lifecore Biomedical in the 2nd quarter worth about $56,000. Creative Planning purchased a new position in Lifecore Biomedical in the 3rd quarter worth about $69,000. Finally, Boston Partners purchased a new position in Lifecore Biomedical in the 1st quarter worth about $104,000. Institutional investors own 83.36% of the company's stock.

Lifecore Biomedical Company Profile

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.