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

Lexaria Bioscience (NASDAQ:LEXX) issued its earnings results on Monday. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02), Zacks reports.

Lexaria Bioscience Trading Down 8.0%

Shares of LEXX stock opened at $0.59 on Tuesday. The company has a market capitalization of $14.75 million, a price-to-earnings ratio of -1.27 and a beta of 0.34. The firm has a 50-day moving average price of $0.60 and a 200 day moving average price of $0.71. Lexaria Bioscience has a twelve month low of $0.46 and a twelve month high of $1.55.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.50.

Institutional Investors Weigh In On Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC acquired a new stake in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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 filing with the Securities & Exchange Commission. 13.06% of the stock is currently owned by institutional investors and hedge funds.

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.