Lexaria Bioscience (NASDAQ:LEXX) Given New $7.00 Price Target at HC Wainwright

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

Lexaria Bioscience Stock Performance

Shares of Lexaria Bioscience stock opened at $1.74 on Friday. The business has a 50-day moving average of $2.17 and a 200 day moving average of $2.73. Lexaria Bioscience has a 12 month low of $1.36 and a 12 month high of $6.85.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings data 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%. Research analysts predict that Lexaria Bioscience will post -0.42 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lexaria Bioscience

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd grew its position in shares of Lexaria Bioscience by 47.8% during the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after acquiring an additional 6,024 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Lexaria Bioscience in the third quarter valued at about $40,000. Geode Capital Management LLC boosted its stake 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 buying an additional 35,608 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Lexaria Bioscience during the second quarter worth about $63,000. Finally, Armistice Capital LLC acquired a new position in Lexaria Bioscience in the 2nd quarter valued at about $2,836,000. 13.06% of the stock is owned by hedge funds and other institutional investors.

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.