Lexaria Bioscience Corp. (NASDAQ:LEXX) Stock Short Interest Climbs 402.2%

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 179,002 shares, a growth of 402.2% from the August 31st total of 35,644 shares. Based on an average daily volume of 110,136 shares, the days-to-cover ratio is currently 1.6 days. Currently, 11.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Lexaria Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.50.

Lexaria Bioscience Stock Up 1.9%

NASDAQ LEXX opened at $3.44 on Friday. The stock’s 50-day simple moving average is $7.82 and its two-hundred day simple moving average is $9.63. Lexaria Bioscience has a twelve month low of $2.80 and a twelve month high of $23.25. The company has a market capitalization of $5.67 million, a price-to-earnings ratio of -0.67 and a beta of 0.50.

Lexaria Bioscience (NASDAQ:LEXX) last issued its quarterly earnings results on Monday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). On average, equities analysts expect that Lexaria Bioscience will post -4.05 earnings per share for the current fiscal year.

About Lexaria Bioscience

Lexaria Bioscience Corp. is a biotechnology company developing drug-delivery technologies designed to improve the absorption and delivery of orally administered active compounds. Its proprietary DehydraTECH platform is intended to enhance bioavailability and may facilitate the delivery of certain compounds across biological barriers, including the blood-brain barrier.

The company has researched DehydraTECH applications involving cannabinoids, nicotine, non-steroidal anti-inflammatory drugs, antiviral compounds and other active pharmaceutical ingredients.