Lexaria Bioscience (NASDAQ:LEXX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Lexaria Bioscience (NASDAQ:LEXX) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $10.00 target price on the stock. HC Wainwright also issued estimates for Lexaria Bioscience’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($8.00) EPS and FY2025 earnings at ($0.31) EPS.

Lexaria Bioscience Stock Performance

LEXX opened at $2.09 on Monday. The stock has a market capitalization of $33.06 million, a PE ratio of -4.82 and a beta of 1.02. The company’s 50 day simple moving average is $2.67 and its 200 day simple moving average is $3.00. Lexaria Bioscience has a 1 year low of $1.20 and a 1 year high of $6.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LEXX. XTX Topco Ltd raised its holdings in shares of Lexaria Bioscience by 47.8% during the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock valued at $57,000 after buying an additional 6,024 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Lexaria Bioscience during the third quarter valued at approximately $40,000. Renaissance Technologies LLC acquired a new position in Lexaria Bioscience in the 2nd quarter worth $63,000. Geode Capital Management LLC increased its position in shares of Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock worth $459,000 after acquiring an additional 35,608 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Lexaria Bioscience in the second quarter worth about $2,836,000. 13.06% of the stock is owned by hedge funds and other institutional investors.

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.