Zacks Small Cap Weighs in on Lexaria Bioscience Corp.’s FY2022 Earnings (NASDAQ:LEXX)

Lexaria Bioscience Corp. (NASDAQ:LEXXGet Rating) – Investment analysts at Zacks Small Cap dropped their FY2022 EPS estimates for Lexaria Bioscience in a research note issued to investors on Wednesday, August 3rd. Zacks Small Cap analyst J. Vandermosten now expects that the company will post earnings per share of ($1.21) for the year, down from their previous estimate of ($1.09). The consensus estimate for Lexaria Bioscience’s current full-year earnings is ($1.09) per share.

Lexaria Bioscience Price Performance

NASDAQ LEXX opened at $2.83 on Friday. The firm has a 50 day simple moving average of $2.64 and a 200-day simple moving average of $3.06. Lexaria Bioscience has a one year low of $1.85 and a one year high of $7.20.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lexaria Bioscience stock. Invenomic Capital Management LP boosted its position in Lexaria Bioscience Corp. (NASDAQ:LEXXGet Rating) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,113 shares of the company’s stock after acquiring an additional 6,694 shares during the quarter. Invenomic Capital Management LP owned 6.03% of Lexaria Bioscience worth $1,454,000 at the end of the most recent quarter. Institutional investors own 7.63% of the company’s stock.

About Lexaria Bioscience

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Lexaria Bioscience Corp. operates as a biotechnology company. Its patented drug delivery technology, DehydraTECH, improves the way active pharmaceutical ingredients enter the bloodstream by promoting effective oral delivery. The company's DehydraTECH has demonstrated the ability to increase bio-absorption with cannabinoids and nicotine by 5-10x and in some instances with cannabinoids by 27x compared to standard industry formulations, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (NSAIDs), PDE5 inhibitors, and others.

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