Lexaria Bioscience (NASDAQ:LEXX) Announces Earnings Results

Lexaria Bioscience (NASDAQ:LEXX) announced its quarterly earnings data on Tuesday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06, Zacks reports. The business had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.14 million. Lexaria Bioscience had a negative net margin of 1,685.84% and a negative return on equity of 222.83%.

Lexaria Bioscience Stock Performance

LEXX opened at $0.78 on Thursday. The company has a fifty day moving average of $0.91 and a two-hundred day moving average of $0.94. The stock has a market capitalization of $19.46 million, a price-to-earnings ratio of -1.40 and a beta of 0.63. Lexaria Bioscience has a fifty-two week low of $0.46 and a fifty-two week high of $2.25.

Hedge Funds Weigh In On Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC purchased a new position in Lexaria Bioscience Corp. (NASDAQ:LEXX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.13% of Lexaria Bioscience at the end of the most recent quarter. Institutional investors own 13.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Lexaria Bioscience

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.