Lexaria Bioscience (NASDAQ:LEXX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lexaria Bioscience (NASDAQ:LEXX) to a sell rating in a research report sent to investors on Saturday.

Several other equities analysts have also weighed in on the company. HC Wainwright reduced their price objective on Lexaria Bioscience from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Wednesday, October 8th. 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, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

Lexaria Bioscience Stock Up 5.4%

LEXX stock opened at $0.90 on Friday. The firm has a market cap of $17.66 million, a PE ratio of -1.35 and a beta of 0.81. The business has a 50 day moving average of $0.98 and a 200-day moving average of $1.05. Lexaria Bioscience has a 12-month low of $0.77 and a 12-month high of $3.15.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings data on Monday, July 14th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.06). Lexaria Bioscience had a negative net margin of 1,849.19% and a negative return on equity of 157.22%. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.17 million. On average, research analysts expect that Lexaria Bioscience will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On Lexaria Bioscience

Institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of Lexaria Bioscience by 108.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,873 shares of the company’s stock worth $61,000 after acquiring an additional 15,050 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Lexaria Bioscience by 122.3% during the first quarter. Byrne Asset Management LLC now owns 28,905 shares of the company’s stock worth $49,000 after acquiring an additional 15,905 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its position in shares of Lexaria Bioscience by 33.9% during the first quarter. Invenomic Capital Management LP now owns 549,947 shares of the company’s stock worth $940,000 after acquiring an additional 139,216 shares in the last quarter. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.