Lexaria Bioscience (NASDAQ:LEXX) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Lexaria Bioscience (NASDAQ:LEXX) issued its quarterly earnings data on Friday. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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 Stock Performance

Shares of LEXX opened at $2.16 on Friday. The stock has a 50 day simple moving average of $2.24 and a 200 day simple moving average of $2.78. Lexaria Bioscience has a 52-week low of $1.36 and a 52-week high of $6.85. The firm has a market capitalization of $37.70 million, a PE ratio of -4.60 and a beta of 0.98.

Analyst Upgrades and Downgrades

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

Insider Activity at Lexaria Bioscience

In related news, CEO Richard Christopher acquired 22,828 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were bought at an average price of $2.24 per share, for a total transaction of $51,134.72. Following the purchase, the chief executive officer now directly owns 22,828 shares in the company, valued at approximately $51,134.72. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.40% of the stock is owned by insiders.

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.