Lexaria Bioscience Corp. (NASDAQ:LEXX – Free Report) – Stock analysts at Zacks Small Cap issued their Q3 2024 earnings estimates for Lexaria Bioscience in a research report issued to clients and investors on Monday, April 29th. Zacks Small Cap analyst J. Vandermosten anticipates that the company will earn ($0.13) per share for the quarter. The consensus estimate for Lexaria Bioscience’s current full-year earnings is ($0.60) per share. Zacks Small Cap also issued estimates for Lexaria Bioscience’s Q4 2024 earnings at ($0.13) EPS and FY2026 earnings at ($0.36) EPS.
Separately, Maxim Group increased their price objective on Lexaria Bioscience from $3.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th.
Lexaria Bioscience Stock Performance
Shares of LEXX stock opened at $3.49 on Tuesday. The stock has a market cap of $44.97 million, a price-to-earnings ratio of -5.13 and a beta of 0.94. The firm has a fifty day moving average of $3.17 and a 200-day moving average of $2.08. Lexaria Bioscience has a 52-week low of $0.65 and a 52-week high of $6.85.
Hedge Funds Weigh In On Lexaria Bioscience
Institutional investors have recently modified their holdings of the stock. Welch Group LLC bought a new position in shares of Lexaria Bioscience during the 1st quarter worth approximately $87,000. Cowen AND Company LLC bought a new position in Lexaria Bioscience in the fourth quarter valued at $320,000. Finally, Armistice Capital LLC acquired a new stake in Lexaria Bioscience in the 3rd quarter valued at $889,000. 13.06% of the stock is currently owned by institutional investors and hedge funds.
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.
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