Landec Corporation (LNDC) is Initiated by Maxim Group to Buy, Price Target at $16

Landec Corporation (LNDC) was Initiated by Maxim Group to “Buy” and the brokerage firm has set the Price Target at $16. Maxim Group advised their investors in a research report released on Jun 7, 2016.

On the company’s financial health, Landec Corporation reported $0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Mar 29, 2016. Analyst had a consensus of $0.03. The company had revenue of $129.99 million for the quarter, compared to analysts expectations of $136.96 million. The company’s revenue was down -6.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Landec Corporation closed down -0.05 points or -0.44% at $11.19 with 87,188 shares getting traded on Friday. Post opening the session at $11.23, the shares hit an intraday low of $11.03 and an intraday high of $11.32 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Feb 8, 2016, Fred Frank (director) sold 4,573 shares at $12.00 per share price.

Landec Corporation designs develops manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables. The Company’s Food Export segment is engaged in the purchase and sale of whole commodity fruit and vegetable products to Asia and domestically. The Company’s Hyaluronan-based Biomaterials segment sells products utilizing hyaluronan a polysaccharide that is distributed in the extracellular matrix of connective tissues in both animals and humans for medical use primarily in the ophthalmic orthopedic and veterinary markets. The Company licenses its Intellicoat seed coatings to the farming industry and licenses its Intelimer polymers for personal care products and other industrial products.

Landec Corporation

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