Lexaria Bioscience (NASDAQ:LEXX) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Lexaria Bioscience (NASDAQ:LEXX) to a sell rating in a report released on Saturday morning.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Wednesday. HC Wainwright dropped their price target on Lexaria Bioscience from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.00.

Lexaria Bioscience Stock Performance

NASDAQ:LEXX opened at $0.86 on Friday. The firm has a market cap of $16.76 million, a PE ratio of -1.28 and a beta of 0.81. Lexaria Bioscience has a fifty-two week low of $0.77 and a fifty-two week high of $3.15. The business has a 50 day moving average price of $0.98 and a 200-day moving average price of $1.06.

Lexaria Bioscience (NASDAQ:LEXX) last released its quarterly earnings data on Monday, July 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.17 million. Lexaria Bioscience had a negative net margin of 1,849.19% and a negative return on equity of 157.22%. Research analysts predict that Lexaria Bioscience will post -0.59 EPS for the current year.

Institutional Trading of Lexaria Bioscience

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC lifted its stake in Lexaria Bioscience by 122.3% in the first quarter. Byrne Asset Management LLC now owns 28,905 shares of the company’s stock worth $49,000 after acquiring an additional 15,905 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Lexaria Bioscience by 108.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,873 shares of the company’s stock valued at $61,000 after buying an additional 15,050 shares during the period. Finally, Invenomic Capital Management LP lifted its position in Lexaria Bioscience by 33.9% during the first quarter. Invenomic Capital Management LP now owns 549,947 shares of the company’s stock valued at $940,000 after buying an additional 139,216 shares during the period. Hedge funds and other institutional investors own 13.06% of the company’s stock.

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.