Tocqueville Asset Management L.P. Invests $796,000 in Lifecore Biomedical, Inc. $LFCR

Tocqueville Asset Management L.P. bought a new stake in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 151,700 shares of the company’s stock, valued at approximately $796,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Lifecore Biomedical in the third quarter worth about $28,000. BNP Paribas Financial Markets raised its holdings in shares of Lifecore Biomedical by 92.7% during the third quarter. BNP Paribas Financial Markets now owns 5,791 shares of the company’s stock valued at $43,000 after acquiring an additional 2,786 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Lifecore Biomedical in the 4th quarter valued at approximately $50,000. SG Americas Securities LLC acquired a new stake in Lifecore Biomedical during the 1st quarter valued at $64,000. Finally, State of Wyoming acquired a new stake in Lifecore Biomedical during the 2nd quarter valued at $69,000. Institutional investors and hedge funds own 83.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LFCR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifecore Biomedical in a research report on Tuesday, August 4th. Wall Street Zen upgraded Lifecore Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research raised shares of Lifecore Biomedical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Barrington Research upped their price objective on shares of Lifecore Biomedical from $6.00 to $6.50 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.50.

Lifecore Biomedical Trading Up 1.3%

Lifecore Biomedical stock opened at $4.52 on Friday. Lifecore Biomedical, Inc. has a 1-year low of $3.63 and a 1-year high of $8.98. The firm’s fifty day simple moving average is $4.86 and its 200-day simple moving average is $5.31. The company has a market capitalization of $171.08 million, a P/E ratio of -4.22 and a beta of 1.08.

Lifecore Biomedical (NASDAQ:LFCR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.19) EPS for the quarter, hitting the consensus estimate of ($0.19). The business had revenue of $34.17 million for the quarter, compared to analyst estimates of $34.18 million. On average, equities research analysts predict that Lifecore Biomedical, Inc. will post -1.02 earnings per share for the current year.

About Lifecore Biomedical

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.