Lexaria Bioscience (NASDAQ:LEXX) Releases Quarterly Earnings Results

Lexaria Bioscience (NASDAQ:LEXX) issued its quarterly earnings results on Friday. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04), Zacks reports. Lexaria Bioscience had a negative net margin of 1,249.14% and a negative return on equity of 86.10%.

Lexaria Bioscience Price Performance

Shares of NASDAQ:LEXX opened at $2.16 on Friday. The company’s 50-day moving average price is $2.23 and its two-hundred day moving average price is $2.78. Lexaria Bioscience has a one year low of $1.36 and a one year high of $6.85. The stock has a market capitalization of $37.70 million, a PE ratio of -4.60 and a beta of 0.98.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Lexaria Bioscience in a research note on Monday, December 2nd.

Insider Activity

In other news, CEO Richard Christopher bought 22,828 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average cost of $2.24 per share, with a total value of $51,134.72. Following the completion of the purchase, the chief executive officer now owns 22,828 shares of the company’s stock, valued at $51,134.72. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 26.40% of the stock is owned by corporate insiders.

About Lexaria Bioscience

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.