Lexaria Bioscience (NASDAQ:LEXX – Get Free Report) released its quarterly earnings results on Friday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04), Zacks reports. Lexaria Bioscience had a negative return on equity of 86.10% and a negative net margin of 1,249.14%.
Lexaria Bioscience Stock Performance
Shares of NASDAQ LEXX traded up $0.01 during midday trading on Friday, hitting $2.22. The company’s stock had a trading volume of 49,788 shares, compared to its average volume of 93,298. Lexaria Bioscience has a 1-year low of $1.36 and a 1-year high of $6.85. The firm’s fifty day moving average price is $2.24 and its 200-day moving average price is $2.78. The firm has a market cap of $38.75 million, a P/E ratio of -4.72 and a beta of 0.98.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Lexaria Bioscience in a report on Monday, December 2nd.
Insider Activity
In other news, CEO Richard Christopher bought 22,828 shares of Lexaria Bioscience stock in a transaction on Monday, December 2nd. The stock was purchased at an average cost of $2.24 per share, with a total value of $51,134.72. Following the purchase, the chief executive officer now directly owns 22,828 shares of the company’s stock, valued at approximately $51,134.72. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 26.40% of the company’s stock.
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.
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