Lexaria Bioscience (NASDAQ:LEXX) Shares Up 2.1% – Time to Buy?

by · The Cerbat Gem

Lexaria Bioscience Corp. (NASDAQ:LEXX – Get Free Report)’s share price was up 2.1% during trading on Wednesday . The company traded as high as $0.58 and last traded at $0.5720. Approximately 14,853 shares changed hands during trading, a decline of 79% from the average session volume of 69,929 shares. The stock had previously closed at $0.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lexaria Bioscience presently has a consensus rating of “Hold” and a consensus price target of $1.50.

View Our Latest Report on LEXX

Lexaria Bioscience Trading Up 2.1%

The company has a market cap of $14.18 million, a P/E ratio of -1.22 and a beta of 0.34. The firm has a 50-day moving average of $0.65 and a 200 day moving average of $0.72.

Lexaria Bioscience (NASDAQ:LEXX – Get Free Report) last issued its quarterly earnings results on Monday, April 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. On average, equities analysts predict that Lexaria Bioscience Corp. will post -0.26 EPS for the current year.

Institutional Trading of Lexaria Bioscience

A number of hedge funds and other institutional investors have recently bought and sold shares of LEXX. Geode Capital Management LLC raised its stake in shares of Lexaria Bioscience by 25.7% in the fourth quarter. Geode Capital Management LLC now owns 219,718 shares of the company’s stock worth $136,000 after purchasing an additional 44,939 shares during the last quarter. Byrne Asset Management LLC raised its position in Lexaria Bioscience by 236.8% in the 4th quarter. Byrne Asset Management LLC now owns 105,500 shares of the company’s stock valued at $65,000 after buying an additional 74,180 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Lexaria Bioscience during the 3rd quarter valued at $28,000. Institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Company Profile

(Get Free Report)

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.

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