HC Wainwright Lowers Lexaria Bioscience (NASDAQ:LEXX) Price Target to $7.00

Lexaria Bioscience (NASDAQ:LEXXFree Report) had its price objective cut by HC Wainwright from $10.00 to $7.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Lexaria Bioscience Stock Down 4.4 %

Shares of LEXX opened at $1.74 on Friday. The stock’s 50 day moving average is $2.17 and its two-hundred day moving average is $2.73. Lexaria Bioscience has a twelve month low of $1.36 and a twelve month high of $6.85.

Lexaria Bioscience (NASDAQ:LEXXGet Free Report) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lexaria Bioscience had a negative net margin of 1,473.04% and a negative return on equity of 88.88%. As a group, analysts anticipate that Lexaria Bioscience will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Lexaria Bioscience

In other Lexaria Bioscience news, CEO Richard Christopher acquired 22,828 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average cost of $2.24 per share, with a total value of $51,134.72. Following the purchase, the chief executive officer now owns 22,828 shares in the company, valued at approximately $51,134.72. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Lexaria Bioscience

Several institutional investors and hedge funds have recently modified their holdings of LEXX. XTX Topco Ltd increased its stake 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 worth $57,000 after purchasing an additional 6,024 shares in the last quarter. HighTower Advisors LLC purchased a new position in Lexaria Bioscience during the third quarter worth $40,000. Geode Capital Management LLC lifted its position in shares of Lexaria Bioscience by 31.0% in the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after acquiring an additional 35,608 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Lexaria Bioscience in the second quarter valued at $63,000. Finally, Armistice Capital LLC acquired a new stake in shares of Lexaria Bioscience during the second quarter valued at $2,836,000. Hedge funds and other institutional investors own 13.06% of the company’s stock.

About Lexaria Bioscience

(Get Free Report)

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.

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