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

Lexaria Bioscience (NASDAQ:LEXX) posted its quarterly earnings data on Friday. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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 LEXX stock opened at $2.16 on Friday. The company’s 50-day moving average is $2.24 and its 200 day moving average is $2.78. The company has a market capitalization of $37.70 million, a price-to-earnings ratio of -4.60 and a beta of 0.98. Lexaria Bioscience has a one year low of $1.36 and a one year high of $6.85.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Lexaria Bioscience news, CEO Richard Christopher bought 22,828 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was acquired at an average cost of $2.24 per share, for a total transaction of $51,134.72. Following the completion of the transaction, the chief executive officer now owns 22,828 shares in the company, valued at $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 26.40% 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.