Lexaria Bioscience (NASDAQ:LEXX) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Lexaria Bioscience (NASDAQ:LEXX) announced its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06, Zacks reports. Lexaria Bioscience had a negative return on equity of 222.83% and a negative net margin of 1,685.84%.The company had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.14 million.

Lexaria Bioscience Price Performance

Lexaria Bioscience stock opened at $0.78 on Thursday. The firm has a 50 day simple moving average of $0.91 and a 200-day simple moving average of $0.94. The stock has a market cap of $19.46 million, a price-to-earnings ratio of -1.40 and a beta of 0.63. Lexaria Bioscience has a 1-year low of $0.46 and a 1-year high of $2.25.

Institutional Trading of Lexaria Bioscience

A hedge fund recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC bought a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.13% of Lexaria Bioscience as of its most recent SEC filing. Institutional investors and hedge funds own 13.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HC Wainwright decreased their target price on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating on the stock in a research report on Friday, December 26th. Wall Street Zen downgraded Lexaria Bioscience from a “hold” rating to a “sell” rating in a research note on Sunday, December 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. One 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 company currently has a consensus 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.