HC Wainwright Reaffirms Buy Rating for Lexaria Bioscience (NASDAQ:LEXX)

Lexaria Bioscience (NASDAQ:LEXX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 380.77% from the company’s current price.

Lexaria Bioscience Stock Down 0.5 %

NASDAQ LEXX opened at $2.08 on Monday. Lexaria Bioscience has a 52 week low of $1.20 and a 52 week high of $6.85. The company has a market capitalization of $36.30 million, a P/E ratio of -4.43 and a beta of 1.02. The stock’s 50-day moving average price is $2.60 and its 200-day moving average price is $2.98.

Hedge Funds Weigh In On Lexaria Bioscience

Several large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new stake in shares of Lexaria Bioscience during the 3rd quarter valued at $40,000. XTX Topco Ltd increased its stake in Lexaria Bioscience by 47.8% in the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after buying an additional 6,024 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Lexaria Bioscience in the 2nd quarter worth $63,000. Geode Capital Management LLC raised its holdings in Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after acquiring an additional 35,608 shares during the period. Finally, Armistice Capital LLC bought a new position in shares of Lexaria Bioscience in the second quarter worth about $2,836,000. Hedge funds and other institutional investors own 13.06% 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.