Lexaria Bioscience (NASDAQ:LEXX) Releases Earnings Results, Misses Expectations By $0.02 EPS

Lexaria Bioscience (NASDAQ:LEXX) released its earnings results on Monday. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), Zacks reports.

Lexaria Bioscience Trading Down 1.3%

LEXX stock opened at $0.59 on Wednesday. The stock has a market capitalization of $14.56 million, a PE ratio of -1.73 and a beta of 0.34. Lexaria Bioscience has a 12-month low of $0.46 and a 12-month high of $1.55. The stock’s 50 day simple moving average is $0.60 and its 200 day simple moving average is $0.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Lexaria Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Lexaria Bioscience has an average rating of “Hold” and a consensus price target of $1.50.

Institutional Investors Weigh In On Lexaria Bioscience

An institutional investor recently raised its stake in Lexaria Bioscience stock. Geode Capital Management LLC raised its stake in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 25.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 219,718 shares of the company’s stock after acquiring an additional 44,939 shares during the period. Geode Capital Management LLC owned approximately 0.88% of Lexaria Bioscience worth $136,000 as of its most recent SEC filing. Institutional investors and hedge funds own 13.06% of the company’s stock.

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.