Lexaria Bioscience (LEXX) Expected to Announce Earnings on Friday

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

Lexaria Bioscience Trading Up 13.5%

LEXX opened at $0.62 on Friday. The business has a 50 day moving average of $0.96 and a 200-day moving average of $0.95. The stock has a market capitalization of $15.36 million, a price-to-earnings ratio of -0.95 and a beta of 0.64. Lexaria Bioscience has a 1-year low of $0.46 and a 1-year high of $2.43.

Analyst Upgrades and Downgrades

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

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 stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.13% of Lexaria Bioscience as of its most recent SEC filing. 13.06% of the stock is owned by institutional investors and hedge funds.

About Lexaria Bioscience

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.