Lexaria Bioscience Corp. (NASDAQ:LEXX) to Post FY2023 Earnings of ($1.03) Per Share, Zacks Small Cap Forecasts

Lexaria Bioscience Corp. (NASDAQ:LEXX) – Analysts at Zacks Small Cap dropped their FY2023 earnings per share (EPS) estimates for Lexaria Bioscience in a report issued on Monday, August 28th. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will post earnings of ($1.03) per share for the year, down from their previous forecast of ($0.97). The consensus estimate for Lexaria Bioscience’s current full-year earnings is ($0.97) per share. Zacks Small Cap also issued estimates for Lexaria Bioscience’s Q4 2023 earnings at ($0.17) EPS, FY2024 earnings at ($0.66) EPS and FY2025 earnings at ($0.55) EPS.

Separately, Maxim Group started coverage on Lexaria Bioscience in a report on Friday, July 21st. They set a “buy” rating and a $2.00 target price for the company.

Lexaria Bioscience Trading Up 6.1 %

NASDAQ:LEXX opened at $1.05 on Wednesday. The firm has a market capitalization of $8.50 million, a PE ratio of -0.93 and a beta of 0.66. The stock has a 50 day moving average of $0.89 and a 200-day moving average of $1.56. Lexaria Bioscience has a 52 week low of $0.65 and a 52 week high of $3.60.

Lexaria Bioscience (NASDAQ:LEXX) last posted its earnings results on Friday, July 14th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.12). The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Lexaria Bioscience had a negative net margin of 2,021.70% and a negative return on equity of 123.99%.

Hedge Funds Weigh In On Lexaria Bioscience

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of Lexaria Bioscience during the second quarter worth approximately $34,000. Virtu Financial LLC acquired a new position in shares of Lexaria Bioscience during the first quarter worth approximately $40,000. Centiva Capital LP acquired a new position in shares of Lexaria Bioscience during the second quarter worth approximately $42,000. Dimensional Fund Advisors LP acquired a new position in shares of Lexaria Bioscience during the third quarter worth approximately $37,000. Finally, Susquehanna International Group LLP boosted its position in shares of Lexaria Bioscience by 64.8% during the fourth quarter. Susquehanna International Group LLP now owns 66,131 shares of the company’s stock worth $162,000 after buying an additional 26,012 shares during the period. 11.03% of the stock is currently owned by institutional investors and hedge funds.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. operates as a biotechnology company. The company develops and out-licenses its DehydraTECH 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.