Lifecore Biomedical (NASDAQ:LFCR) Trading 2.8% Higher – Here’s Why

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) traded up 2.8% during trading on Monday . The stock traded as high as $8.85 and last traded at $8.82. 106,515 shares traded hands during trading, a decline of 14% from the average session volume of 124,003 shares. The stock had previously closed at $8.58.

Wall Street Analysts Forecast Growth

LFCR has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Lifecore Biomedical in a report on Thursday. Zacks Research raised Lifecore Biomedical to a “hold” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lifecore Biomedical has a consensus rating of “Hold”.

Lifecore Biomedical Stock Up 2.8%

The company has a debt-to-equity ratio of 113.76, a quick ratio of 1.67 and a current ratio of 2.80. The company’s fifty day moving average price is $7.94 and its 200-day moving average price is $7.53. The stock has a market cap of $330.49 million, a P/E ratio of -8.24 and a beta of 0.59.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.01. Lifecore Biomedical had a negative net margin of 25.59% and a negative return on equity of 1,211.09%. The company had revenue of $31.11 million for the quarter, compared to the consensus estimate of $26.68 million. Equities analysts forecast that Lifecore Biomedical, Inc. will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Lifecore Biomedical

A number of institutional investors and hedge funds have recently modified their holdings of the business. PharVision Advisers LLC bought a new position in Lifecore Biomedical in the 3rd quarter valued at $151,000. Quarry LP purchased a new stake in shares of Lifecore Biomedical during the third quarter valued at $28,000. Millennium Management LLC grew its holdings in shares of Lifecore Biomedical by 99.6% in the third quarter. Millennium Management LLC now owns 135,205 shares of the company’s stock worth $995,000 after purchasing an additional 67,456 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Lifecore Biomedical by 127.1% in the third quarter. Citadel Advisors LLC now owns 66,752 shares of the company’s stock worth $491,000 after purchasing an additional 37,363 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in Lifecore Biomedical in the 3rd quarter worth about $221,000. 83.36% of the stock is owned by institutional investors.

Lifecore Biomedical Company Profile

Lifecore Biomedical, Inc is a publicly traded specialty biopharmaceutical company headquartered in Chaska, Minnesota. The company focuses on the development, manufacture and commercialization of hyaluronic acid (HA)–based products that address medical and aesthetic needs. Lifecore’s proprietary HA formulations are designed to meet strict regulatory standards for purity, consistency and performance in highly regulated markets.

The company’s product portfolio spans multiple therapeutic areas, including ophthalmology, orthopedics, dermatology and wound care.