Lexaria Bioscience (NASDAQ:LEXX) Rating Increased to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Lexaria Bioscience (NASDAQ:LEXX – Free Report) from a sell rating to a hold rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.00.

Check Out Our Latest Stock Report on Lexaria Bioscience

Lexaria Bioscience Stock Performance

Shares of LEXX stock opened at $1.10 on Friday. The stock’s 50-day moving average is $1.02 and its two-hundred day moving average is $0.98. Lexaria Bioscience has a 1 year low of $0.77 and a 1 year high of $2.85. The firm has a market cap of $24.34 million, a price-to-earnings ratio of -1.68 and a beta of 0.71.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lexaria Bioscience stock. Invenomic Capital Management LP grew its stake in Lexaria Bioscience Corp. (NASDAQ:LEXX – Free Report) by 33.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 549,947 shares of the company’s stock after purchasing an additional 139,216 shares during the period. Invenomic Capital Management LP owned approximately 3.13% of Lexaria Bioscience worth $940,000 at the end of the most recent reporting period. Institutional investors own 13.06% of the company’s stock.

About Lexaria Bioscience

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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.

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