Lexaria Bioscience (NASDAQ:LEXX) Announces Earnings Results, Beats Estimates By $0.04 EPS

Lexaria Bioscience (NASDAQ:LEXX) issued its quarterly earnings results on Monday. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04, Zacks reports. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. Lexaria Bioscience had a negative return on equity of 232.57% and a negative net margin of 1,685.84%.

Lexaria Bioscience Stock Up 4.1%

NASDAQ:LEXX opened at $1.02 on Wednesday. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.85. Lexaria Bioscience has a 52 week low of $0.46 and a 52 week high of $1.69. The company has a market cap of $25.39 million, a PE ratio of -2.17 and a beta of 0.48.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lexaria Bioscience stock. Geode Capital Management LLC grew its position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,718 shares of the company’s stock after buying an additional 44,939 shares during the period. Geode Capital Management LLC owned about 0.88% of Lexaria Bioscience worth $136,000 as of its most recent SEC filing. 13.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on LEXX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. HC Wainwright reduced their target price on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating on the stock in a report on Friday, December 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.