Lexaria Bioscience (NASDAQ:LEXX) Releases Earnings Results, Misses Estimates By $0.04 EPS

Lexaria Bioscience (NASDAQ:LEXX) announced its quarterly earnings data on Friday. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04), Zacks reports. Lexaria Bioscience had a negative return on equity of 86.10% and a negative net margin of 1,249.14%.

Lexaria Bioscience Trading Down 0.9 %

LEXX traded down $0.02 during trading hours on Friday, hitting $2.19. The company’s stock had a trading volume of 50,081 shares, compared to its average volume of 93,315. The company has a 50-day simple moving average of $2.24 and a 200 day simple moving average of $2.78. The firm has a market capitalization of $38.22 million, a PE ratio of -4.66 and a beta of 0.98. Lexaria Bioscience has a fifty-two week low of $1.36 and a fifty-two week high of $6.85.

Insider Activity at Lexaria Bioscience

In related news, CEO Richard Christopher purchased 22,828 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were bought at an average price of $2.24 per share, with a total value of $51,134.72. Following the completion of the acquisition, the chief executive officer now owns 22,828 shares of the company’s stock, valued at approximately $51,134.72. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Lexaria Bioscience in a research report on Monday, December 2nd.

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.