Lexaria Bioscience (NASDAQ:LEXX) Shares Up 5.5% – Should You Buy?

Lexaria Bioscience Corp. (NASDAQ:LEXX)’s share price was up 5.5% on Monday . The company traded as high as $0.5783 and last traded at $0.56. Approximately 780,474 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,412,140 shares. The stock had previously closed at $0.5309.

Wall Street Analysts Forecast Growth

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

Lexaria Bioscience Stock Performance

The firm’s 50 day moving average price is $0.96 and its two-hundred day moving average price is $0.95. The firm has a market cap of $15.36 million, a PE ratio of -0.95 and a beta of 0.63.

Institutional Investors Weigh In On Lexaria Bioscience

A hedge fund recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC purchased a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) in the third quarter, according to its most recent filing 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. 13.06% of the stock is owned by hedge funds and other institutional investors.

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.