FY2024 Earnings Forecast for Lexaria Bioscience Corp. Issued By Zacks Small Cap (NASDAQ:LEXX)

Lexaria Bioscience Corp. (NASDAQ:LEXX) – Research analysts at Zacks Small Cap lifted their FY2024 earnings estimates for shares of Lexaria Bioscience in a research report issued on Monday, April 29th. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will earn ($0.46) per share for the year, up from their previous estimate of ($0.60). 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 FY2025 earnings at ($0.41) EPS.

Separately, Maxim Group boosted their target price on shares of Lexaria Bioscience from $3.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

Lexaria Bioscience Stock Up 12.9 %

LEXX opened at $3.49 on Wednesday. Lexaria Bioscience has a twelve month low of $0.65 and a twelve month high of $6.85. The firm has a 50 day moving average price of $3.17 and a 200-day moving average price of $2.08. The stock has a market capitalization of $44.97 million, a price-to-earnings ratio of -5.13 and a beta of 0.94.

Institutional Investors Weigh In On Lexaria Bioscience

A number of large investors have recently made changes to their positions in LEXX. Armistice Capital LLC purchased a new position in shares of Lexaria Bioscience in the third quarter worth approximately $889,000. Cowen AND Company LLC purchased a new stake in Lexaria Bioscience during the fourth quarter valued at approximately $320,000. Finally, Welch Group LLC bought a new position in Lexaria Bioscience in the first quarter worth approximately $87,000. 13.06% of the stock is currently owned by institutional investors.

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.