Lifecore reiterated at strong buy by JMP

JMP Securities analyst Anthony Ostrea reiterated Lifecore Biomedical, Inc. at strong buy with an $18 price target. The company reported revenue of $17.7 million, above the analyst's estimate of $17.2 million and the Street's $17.4 million. The higher-than-expected top and bottom line was driven by higher revenue and operating margins within LifeCore's HA business. Shares of the Chaska, Minn.-based biotechnology company were down 49 cents, or 3.36%, at $14.08 on volume of 131,151 shares versus the three-month running average of 40,949 shares. (Nasdaq: LCBM)

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