Lexaria Bioscience (NASDAQ:LEXX) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Lexaria Bioscience (NASDAQ:LEXX) issued its quarterly 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 Stock Down 8.0%

Shares of LEXX stock traded down $0.05 on Monday, reaching $0.59. 62,656 shares of the stock were exchanged, compared to its average volume of 158,412. The stock has a market cap of $14.75 million, a P/E ratio of -1.27 and a beta of 0.34. The firm has a 50 day moving average of $0.60 and a two-hundred day moving average of $0.71. Lexaria Bioscience has a 1-year low of $0.46 and a 1-year high of $1.55.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC purchased a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.13% of Lexaria Bioscience at the end of the most recent reporting period. 13.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.