Lexaria Bioscience (NASDAQ:LEXX) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Lexaria Bioscience (NASDAQ:LEXX) from a hold rating to a sell rating in a research report released on Sunday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lexaria Bioscience currently has an average rating of “Hold” and an average price target of $4.00.

Lexaria Bioscience Price Performance

LEXX opened at $1.06 on Friday. The business has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $0.98. Lexaria Bioscience has a 1 year low of $0.77 and a 1 year high of $2.54. The company has a market capitalization of $23.56 million, a PE ratio of -1.63 and a beta of 0.63.

Institutional Investors Weigh In On Lexaria Bioscience

A hedge fund recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC bought a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.13% of Lexaria Bioscience as of its most recent SEC filing. Hedge funds and other institutional investors own 13.06% of the company’s stock.

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.