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Lifecore Biomedical
(NASDAQ:LFCR)
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Rating:49Neutral
Price Target:
$6.50
▲(43.17% Upside)
Action:Reiterated
Date:09/30/26
The score is held down primarily by weak financial fundamentals—persistent losses alongside a highly leveraged balance sheet with negative equity—despite a 2026 improvement in cash generation. Technicals are supportive due to strong trend vs. moving averages, but overbought momentum increases near-term risk. Valuation remains challenged because losses drive a negative P/E, while corporate events (go-private deal and extended Alcon contract) are meaningful offsets that improve visibility and near-term outcome potential.
Positive Factors
Specialized CDMO Platform
Lifecore’s specialized sterile fill-finish platform addresses complex manufacturing needs for injectable biologics and supports customers across development, production, and quality services. This breadth can deepen customer relationships and create durable value as programs advance toward commercialization.
Negative Factors
Highly Leveraged Balance Sheet
High debt relative to the asset base and negative stockholders’ equity materially reduce financial flexibility. This structure can constrain investment and increase refinancing or solvency pressure, making the company more exposed if operating performance weakens or funding conditions become less favorable.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized CDMO Platform
Lifecore’s specialized sterile fill-finish platform addresses complex manufacturing needs for injectable biologics and supports customers across development, production, and quality services. This breadth can deepen customer relationships and create durable value as programs advance toward commercialization.
Read all positive factors
Lifecore Biomedical (LFCR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$249.80M
Dividend YieldN/A
Average Volume (3M)284.35K
Price to Earnings (P/E)―
Beta (1Y)1.90
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees382
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.81
Shares Outstanding37,905,846
10 Day Avg. Volume585,089
30 Day Avg. Volume284,348
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)-19.16
Price to Sales (P/S)2.10
P/FCF Ratio43.67
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$6.28Price Target Upside38.33% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)-1.06
Revenue Forecast (FY)$121.53M
Lifecore Biomedical Business Overview & Revenue Model
Company Description
Lifecore Biomedical, Inc., together with its subsidiaries, operates as an integrated contract development and manufacturing organization that serves customers in the United States, Belgium, the Netherlands, and internationally. It provides service...
How the Company Makes Money
Lifecore primarily makes money by providing fee-for-service CDMO work to biopharmaceutical and biotechnology customers. Its core revenue stream is manufacturing services for injectable drug products, particularly sterile fill-finish, where custome...
Lifecore Biomedical Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 12, 2027
Earnings Call Sentiment Neutral
Balanced/Neutral. The call highlighted substantial strategic and operational progress — a growing late-stage pipeline, meaningful new business momentum (13 wins in 12 months), successful regulatory audits (including PMDA), sustained SG&A reductions (cumulative $16.2M) and improved liquidity ($38.8M) — and management reaffirmed 2026 guidance. However, near-term financials showed meaningful declines: Q2 revenue down 6.2% YoY and six-month revenue down 19.9%, widened net losses (Q2 and 6-month), and a sizable drop in 6-month adjusted EBITDA (~34.5%). Management expects a back-half recovery and a 2027–2028 volume inflection with a major customer's committed demand ramp, but execution and timing risks remain. Overall, positives around pipeline, wins, quality and cost discipline are offset by short-term revenue and profitability headwinds, yielding a neutral outlook.Positive Updates
Guidance Reaffirmed for 2026
Company reaffirmed 2026 revenue guidance of $120.0M–$125.0M and adjusted EBITDA guidance of $20.5M–$25.0M, and reiterated expectation to deliver full-year guidance despite H1 timing headwinds.
Negative Updates
Revenue Declines — Q2 and 6-Month Results
Q2 2026 revenue of $34.2M declined $2.3M or 6.2% versus the comparable prior period; 6-month revenue of $57.4M declined $14.2M or 19.9% versus the comparable prior period, driven by timing, mix, lower development revenue and a prior-period contractual take-or-pay benefit.
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Q2-2026 Updates
Positive
Negative
Guidance Reaffirmed for 2026
Company reaffirmed 2026 revenue guidance of $120.0M–$125.0M and adjusted EBITDA guidance of $20.5M–$25.0M, and reiterated expectation to deliver full-year guidance despite H1 timing headwinds.
Read all positive updates
Company Guidance
Lifecore reaffirmed 2026 guidance of $120–125 million in revenue and $20.5–25.0 million in adjusted EBITDA, noting H2 midpoint expectations of roughly $65 million in revenue and $13 million in adjusted EBITDA with a Q4-weighted back half and a step-up in CDMO/aseptic revenue; Q2 results were $34.2M revenue, $12.1M gross profit, $8.0M SG&A, $8.6M adjusted EBITDA and a $6.2M net loss ($0.19/share), while the six‑month totals were $57.4M revenue, $16.5M gross profit, $15.9M SG&A, $9.6M adjusted EBITDA and a $21.1M net loss ($0.61/share). Liquidity at quarter end was ~$38.8M (cash $17.2M + revolver availability $21.6M), free cash flow for the year is targeted at ~$7–10M, and the company has achieved cumulative SG&A/R&D savings of $16.2M since late‑2024 with SG&A expected to trend to about $6M/quarter (ex‑one‑time items) in the back half. Looking to the mid/long term, Lifecore reiterated a 12% revenue CAGR to 2029, a >25% adjusted EBITDA margin target by 2029, ~60% installed capacity utilization by 2029, and specific program/demand metrics including a doubling of committed fill/finish demand beginning in 2027 (and >200% increase in 2028 vs 2026), 11 development programs potentially commercializing by end‑2028, and recent business development wins (6 in Q2, 9 YTD, 13 LTM) with >60% of competed opportunities being late‑stage or site transfers.Lifecore Biomedical Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
22
Negative
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | May 2025 | May 2024 | Aug 2023 | May 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.53M | 129.46M | 128.87M | 128.26M | 103.27M | 111.27M |
| Gross Profit | 28.61M | 40.61M | 40.30M | 41.85M | 27.98M | 39.07M |
| EBITDA | 2.99M | 8.24M | -8.81M | 35.60M | -33.17M | 12.84M |
| Net Income | -27.29M | -30.79M | -38.72M | 12.01M | -99.56M | -116.72M |
Balance Sheet | ||||||
| Total Assets | 232.18M | 232.18M | 239.34M | 253.96M | 253.54M | 274.70M |
| Cash, Cash Equivalents and Short-Term Investments | 17.47M | 17.47M | 8.27M | 8.46M | 19.09M | 991.00K |
| Total Debt | 142.61M | 142.61M | 130.82M | 133.57M | 112.62M | 247.78M |
| Total Liabilities | 246.38M | 246.38M | 238.01M | 242.65M | 257.77M | 186.88M |
| Stockholders Equity | -14.20M | -14.20M | 1.34M | 11.31M | -4.23M | 87.82M |
Cash Flow | ||||||
| Free Cash Flow | -106.28K | 6.23M | -13.62M | -18.14M | -38.92M | -52.53M |
| Operating Cash Flow | 3.05M | 12.57M | -206.00K | 257.00K | -17.44M | -22.59M |
| Investing Cash Flow | 13.99M | -1.63M | -6.42M | -18.39M | -4.81M | 79.96M |
| Financing Cash Flow | -6.52M | -1.11M | 6.42M | 7.51M | 39.70M | -57.02M |
Lifecore Biomedical Technical Analysis
Positive
4.54
Price Trends
4.58
Positive
4.82
Positive
5.68
Positive
Market Momentum
0.38
Negative
79.62
Negative
96.78
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LFCR, the sentiment is Positive. The current price of 4.54 is below the 20-day moving average (MA) of 4.66, below the 50-day MA of 4.58, and below the 200-day MA of 5.68, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 79.62 is Negative, neither overbought nor oversold. The STOCH value of 96.78 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LFCR.
Lifecore Biomedical Risk Analysis
Lifecore Biomedical disclosed 30 risk factors in its most recent earnings report. Lifecore Biomedical reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lifecore Biomedical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $687.40M | 4.99 | -57.40% | ― | 26.19% | ― | |
53 Neutral | $183.18M | -30.28 | -20.23% | ― | 20.89% | 40.71% | |
52 Neutral | $114.62M | -10.96 | -47.10% | 17.70% | -25.68% | -244.92% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $249.80M | -5.98 | -376.95% | ― | ― | ― | |
44 Neutral | $327.70M | -2.98 | -28.99% | ― | 168.06% | -6.76% |
* Healthcare Sector Average
LFCR
Lifecore Biomedical
6.58
-0.48
-6.80%
IRWD
Ironwood Pharma
3.97
2.36
146.58%
CPIX
Cumberland Pharmaceuticals
7.83
5.32
211.70%
SXTC
China SXT Pharmaceuticals
3.01
-19,796.99
-99.98%
DERM
Journey Medical Corp
6.84
-0.46
-6.30%
BIOA
BioAge Labs, Inc.
7.09
1.19
20.17%
Lifecore Biomedical Corporate Events
Business Operations and Strategy
Lifecore Biomedical Extends Key Manufacturing Pact with Alcon
Positive
Sep 29, 2026
On September 24, 2026, Lifecore Biomedical entered into a Third Amendment to its Amended and Restated Contract Manufacturing Agreement with Alcon Research, effective November 1, 2026, extending the agreement’s initial term from December 31, ...
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsPrivate Placements and Financing
Lifecore Biomedical to Go Private in Webster Buyout
Positive
Sep 28, 2026
On September 27–28, 2026, Lifecore Biomedical agreed to be acquired by an affiliate of private equity firm Webster Equity Partners in a deal valued at up to $663.7 million, assuming full achievement of performance milestones. The transaction...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.