Lexaria Bioscience (LEXX) Expected to Announce Earnings on Friday

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

Lexaria Bioscience Stock Down 0.4%

Shares of NASDAQ LEXX opened at $0.70 on Thursday. Lexaria Bioscience has a 12-month low of $0.46 and a 12-month high of $2.30. The firm’s 50-day simple moving average is $0.94 and its 200 day simple moving average is $0.94. The company has a market cap of $17.37 million, a price-to-earnings ratio of -1.07 and a beta of 0.63.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. Wall Street Zen cut shares of Lexaria Bioscience from a “hold” rating to a “sell” rating in a research report on Sunday, December 7th. Finally, HC Wainwright dropped their price target on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating on the stock in a research note on Friday, December 26th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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.

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.