Lexaria Bioscience (LEXX) Expected to Announce Earnings on Friday

Lexaria Bioscience (NASDAQ:LEXX) will likely be announcing its results before the market opens on Friday, January 9th. Analysts expect the company to announce earnings of ($0.17) per share and revenue of $0.1370 million for the quarter.

Lexaria Bioscience Trading Down 1.2%

NASDAQ:LEXX opened at $0.70 on Wednesday. Lexaria Bioscience has a 12 month low of $0.46 and a 12 month high of $2.38. The company has a market cap of $17.45 million, a PE ratio of -1.08 and a beta of 0.63. The company has a 50 day simple moving average of $0.94 and a two-hundred day simple moving average of $0.94.

Analyst Ratings Changes

A number of research analysts recently weighed in on LEXX shares. Wall Street Zen cut shares of Lexaria Bioscience from a “hold” rating to a “sell” rating in a research note on Sunday, December 7th. HC Wainwright dropped their price objective on shares of Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating for the company in a research note on Friday, December 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC bought a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience as of its most recent SEC filing. 13.06% of the stock is owned by institutional investors and hedge funds.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. (NASDAQ: LEXX) is a biotech company specializing in the development and commercialization of proprietary drug delivery platforms. The company’s flagship technology, DehydraTECH, is designed to improve the oral bioavailability, onset time and overall efficiency of active molecules such as cannabinoids, nicotine and other lipophilic compounds. Lexaria’s platform seeks to address absorption challenges commonly associated with oral delivery by enhancing the rate and extent at which compounds enter the bloodstream.

Founded in 2014 and headquartered in Kelowna, British Columbia, Lexaria operates in the pharmaceutical, nutraceutical and consumer product markets.