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

Lexaria Bioscience (NASDAQ:LEXX) posted its quarterly earnings results on Friday. The company reported ($0.16) earnings per share 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 Price Performance

Shares of LEXX stock opened at $2.16 on Friday. The stock has a 50-day moving average of $2.23 and a 200-day moving average of $2.78. 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 $37.70 million, a PE ratio of -4.60 and a beta of 0.98.

Insider Activity at Lexaria Bioscience

In other news, CEO Richard Christopher purchased 22,828 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of $2.24 per share, with a total value of $51,134.72. Following the acquisition, the chief executive officer now directly owns 22,828 shares of the company’s stock, valued at approximately $51,134.72. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 26.40% of the company’s stock.

Analysts Set New Price Targets

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

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.