Lexaria Bioscience Corp. (NASDAQ:LEXX) Expected to Earn Q3 2024 Earnings of ($0.13) Per Share

Lexaria Bioscience Corp. (NASDAQ:LEXX) – Analysts at Zacks Small Cap issued their Q3 2024 earnings estimates for Lexaria Bioscience in a note issued to investors on Monday, April 29th. Zacks Small Cap analyst J. Vandermosten forecasts that the company will earn ($0.13) per share for the quarter. The consensus estimate for Lexaria Bioscience’s current full-year earnings is ($0.60) per share. Zacks Small Cap also issued estimates for Lexaria Bioscience’s Q4 2024 earnings at ($0.13) EPS and FY2026 earnings at ($0.36) EPS.

Separately, Maxim Group upped their target price on Lexaria Bioscience from $3.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th.

Lexaria Bioscience Stock Performance

NASDAQ:LEXX opened at $2.46 on Tuesday. The firm has a 50-day simple moving average of $3.15 and a 200-day simple moving average of $2.07. Lexaria Bioscience has a one year low of $0.65 and a one year high of $6.85.

Hedge Funds Weigh In On Lexaria Bioscience

Several hedge funds and other institutional investors have recently modified their holdings of LEXX. Welch Group LLC purchased a new position in shares of Lexaria Bioscience in the first quarter worth $87,000. Cowen AND Company LLC purchased a new position in Lexaria Bioscience in the 4th quarter worth $320,000. Finally, Armistice Capital LLC acquired a new stake in Lexaria Bioscience during the 3rd quarter worth about $889,000. 13.06% of the stock is owned by hedge funds and other institutional investors.

About Lexaria Bioscience

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.