60,640 Shares in Lexaria Bioscience Corp. (NASDAQ:LEXX) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 60,640 shares of the company’s stock, valued at approximately $127,000. Raymond James Financial Inc. owned 0.35% of Lexaria Bioscience at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Byrne Asset Management LLC lifted its stake in shares of Lexaria Bioscience by 132.1% in the fourth quarter. Byrne Asset Management LLC now owns 13,000 shares of the company’s stock valued at $27,000 after buying an additional 7,400 shares in the last quarter. HighTower Advisors LLC bought a new position in Lexaria Bioscience in the 3rd quarter worth about $40,000. XTX Topco Ltd increased its position in shares of Lexaria Bioscience by 47.8% during the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock valued at $57,000 after purchasing an additional 6,024 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Lexaria Bioscience by 31.0% during the 3rd quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after acquiring an additional 35,608 shares during the period. Institutional investors own 13.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their target price on shares of Lexaria Bioscience from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, January 24th.

Lexaria Bioscience Trading Up 0.7 %

NASDAQ:LEXX opened at $1.35 on Friday. The company has a market cap of $23.70 million, a price-to-earnings ratio of -2.70 and a beta of 0.86. Lexaria Bioscience Corp. has a twelve month low of $1.15 and a twelve month high of $4.44. The stock has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $2.06.

Lexaria Bioscience (NASDAQ:LEXX) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lexaria Bioscience had a negative return on equity of 88.88% and a negative net margin of 1,473.04%. As a group, equities research analysts predict that Lexaria Bioscience Corp. will post -0.59 EPS for the current fiscal year.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which 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.