Lexaria Bioscience (NASDAQ:LEXX) Releases Earnings Results, Misses Expectations By $0.02 EPS

Lexaria Bioscience (NASDAQ:LEXX) posted its earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), Zacks reports.

Lexaria Bioscience Price Performance

NASDAQ LEXX traded down $0.05 during trading hours on Monday, hitting $0.59. The company had a trading volume of 62,656 shares, compared to its average volume of 158,412. Lexaria Bioscience has a fifty-two week low of $0.46 and a fifty-two week high of $1.55. The company has a market capitalization of $14.75 million, a price-to-earnings ratio of -1.27 and a beta of 0.34. The firm’s 50 day moving average is $0.60 and its 200 day moving average is $0.71.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC bought a new position in Lexaria Bioscience Corp. (NASDAQ:LEXX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. 13.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.