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

Lexaria Bioscience (NASDAQ:LEXX) posted its quarterly earnings results on Friday. The company reported ($0.16) EPS 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 Trading Down 0.9 %

NASDAQ LEXX traded down $0.02 during trading hours on Friday, reaching $2.19. 50,081 shares of the company’s stock were exchanged, compared to its average volume of 93,315. Lexaria Bioscience has a one year low of $1.36 and a one year high of $6.85. The stock has a market cap of $38.22 million, a PE ratio of -4.66 and a beta of 0.98. The firm has a fifty day moving average of $2.24 and a 200-day moving average of $2.78.

Analyst Upgrades and Downgrades

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

Insider Activity at Lexaria Bioscience

In other Lexaria Bioscience news, CEO Richard Christopher bought 22,828 shares of Lexaria Bioscience stock in a transaction dated Monday, December 2nd. The shares were bought at an average price 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 of the company’s stock, valued at $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 26.40% of the stock is currently owned by company 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.