Lifecore upgraded to strong buy by JMP

Lifecore Biomedical, Inc. was upgraded from market outperform to a strong buy with a raised price target to $18 from $17 by JMP Securities analyst Anthony Ostrea. The company's third-quarter 2005 results beat JMP's and the consensus revenue and earnings-per-share estimates, attributed in part to the Hyaluronan and dental implant divisions. Revenue was reported at $16.8 million, compared to JMP at $15.5 million, and earnings per share of $0.18 beat JMP's $0.13. Shares of the Chaska, Minn., biotechnology company were up $2.04, or 16.11%, at $14.70 on volume of 481,901 shares versus the three-month running average of 54,831 shares. (Nasdaq: LCBM)

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